Could your client's property portfolio be at risk?
Understand what questions helped future-proof a property portfolio
Every broker knows it’s critical to help your client’s future-proof their investments. But for clients with property investments, that’s an ever-greater challenge.
Unpredictable events like bushfires, flood, storms, and hail can have major ramifications for commercial properties. Investors and their tenants rely on stability and security. But in our changing climate, can investors really predict whether their property portfolio will be impacted in years to come?
As it turns out, yes. But only with the help of the right questions to ask.
Hear from Wayne Thompson, Risk Engineering Lead at Vero as he talks about how Vero helped to future-proof a property portfolio.
Vero takes on the challenge
Recently, the skilled Risk Engineering team at Vero showed they knew which questions to ask to future-proof a property portfolio.
A client came to them feeling vulnerable. They didn’t know whether their properties might be exposed to natural perils, or what to do to mitigate that risk.
So, the Vero team considered a range of questions, such as where each property was located, the type of building materials used, what purpose the building was being used for and if any hazardous products were contained inside.
The team then cross-referenced this information with weather data, maps, climate reports and many other sources.
The analysis allowed Vero to create a scoring system for the properties, from most to least vulnerable for each of the natural perils. From there, they were able to give tailored advice about how to mitigate the individual risks and in turn helped the client and broker further understand which properties would make safer investments in the future based on exposure to natural perils.
The Vero Risk Engineering team didn’t stop there, they used the same scoring system to create a bespoke acquisition solution to help the business analyse their risk before investing in new properties.
It all comes down to relationships
The key to surfacing the issue was a trusting relationship between the client, the broker and Vero.
When the client had a concern, they approached their broker who engaged with Vero and by asking the right questions, the team was able to offer support with insight.
It's expertise coupled with great relationships that helps to uncover real insight for brokers and clients. That’s the service Vero provides. And it’s how you can help to future-proof a property portfolio for your clients too.
Risk changes over time, and so must our response. So, if you 're interested in asking how you can help future-proof your clients' property, or property portfolio, it’s time to talk to Vero.
Taking the next step
For help tailoring insightful solutions that suit your clients’ needs, speak to Vero’s Risk Engineering and Underwriting teams today for Insurance with Insight.
Insurance issued by AAI Limited ABN 48 005 297 807 trading as Vero Insurance. The information in this article is of a general nature only. Please make your own enquiries and/or obtain independent advice. Subject to any rights you may have under any law, we do not accept any legal responsibility for any loss or damage, including loss of business or profits or any other indirect loss, incurred as a result of reliance upon the information. Read the Product Disclosure Statement before buying insurance. The Target Market Determination TMD is also available. Go to vero.com.au for a copy.
