1. The Field Inspection Process
WAMIC Short Course
April 19-20, 2017

2. Objections to performing Field Inspections?
Why perform Field Inspections?
Things do change
New risks develop without noticing (nose blind)
Potential to save customer
Moral hazard problem
Additional building, pool, wood stove, business, etc.
Proximity Bias
Perception vs reality
Carrier Objections
We receive pictures from the agent.
The y have been a customer of ours forever.
There haven’t been any changes to the property.
Insured Objections
Why now, don’t they trust me?
My agent has all the information they need.
I never agreed to someone coming on my property.
I don’t insure that building anyway.
All wood stoves are installed like this.

3. Eliminate Perception
What Insured Sees
What Inspector Sees

4. Inspection Process Field Work Visual Facts: What we see
Insured Supplied Information: What we are told
Data Interpretation: Analyze all information
Report
“Big Data” Risk
Must be Concise

5. Visual Facts: Photographs
Wide Angle Photos
Overall View
Identify Specific Issue
Close-Up
Property Risks
Hazards
Issues Needing Further Review

6. Visual Facts: Photographs
Psychosocial Assessment
Housekeeping
Decor
Electrical Issues
Trip Falls
Fire Hazards
Safety Features

7. Visual Facts-Measurements
Interior
Solid Fuel Devices
Mfg Guidelines
NFPA Guidelines
State/Local Fire Code
Exterior
Dwelling
Outbuildings
Distance Between Buildings (when requested)

8. Measurements Not As Easy As It Sounds!

9. Measurements

10. Insured Supplied Information
Age of Dwelling/Roof/Improvements
Use of Buildings (“Cabinet making is only a hobby”)
Wood Stove Questions
Dog Types
Farm Operations
Business Operations

11. Data Interpretation 2 + 2 = 4 Usually Ask Leading Questions
Trust but Verify
Gather all Evidence / Interpret as a Whole
Are there Explanatory Conditions?
Do we have all the information?
Cannot Assume!

12. The report arrives on your desk…now what to do with it?
Beware of data overload!
Collect data that:
Fulfills your underwriting criteria
Is consistent with your market
Is pertinent
Is updated for changes
Is comparative