COVERHOLDER PROFILING OFFERS FULL RISK EXPOSURE DATA FOR US COVERHOLDERS

Markel International has successfully launched Coverholder Profiling, a unique, end to end client information system which provides Markel, its US coverholders and their brokers with detailed risk exposure profile information, covering all the risks bound to Markel.

Coverholder Profiling has been developed over an eighteen month period with the active support of Markel’s 80 US coverholders who have invested to provide the necessary electronic download of information in a standardised format.

Steve Hart, non-marine property division, at Markel said: “We are the first company in the London market to be providing our US coverholders with this level of information.  Coverholder Profiling is a major development, which will better enable all parties in the insurance process to assess the variables involved in a risk. This will lead to more accurate pricing, and better client servicing to the benefit of everyone involved.

“This service has been extremely well received.  The fact that Markel has invested heavily in this new analysis tool demonstrates how committed we are to ensuring that our coverholders receive the very best service from Markel. We are now working on further improving this service and looking at making the information available on-line, a service we hope to offer in 2004.”

As well as profiling agent’s risk exposure, we expect to include claims data in within Coverholder Profiling to further improve the level of information available.   

Roy Nadal from Thompson Heath & Bond Ltd said: “Markel’s Coverholder Profiling gives us and our clients a level of knowledge about the overall portfolio, which is unmatched by any other insurers.  It’s a very valuable tool which gives us the ability to better plan our business strategy and identify gaps and trends in our portfolio.  In our view, Coverholder Profiling puts Markel ahead of the competition.”