Engineering & Property
ALPS provides support for insurers or reinsurers or their brokers as well as risk managers by providing underwriting and/or marketing support with risk assessments based on site visits for any kind of industry segment. Our product in every case is a underwriting risk assessment report.
We can use your report template(s) or our own ALPS templates with our own structure and a full typical market report content, namely:
- A descriptive section describing the risk and also giving a risk assessment
- A values section that also includes loss estimates based on commonly used definitions (ALPS uses its own additional loss estimate “Anticipated Mitigated Loss” (AML).
- A risk improvement section with suggested measures for the client to improve the risk
ALPS uses typically two standard report formats, one a comprehensive “risk engineering and improvement report” and the other one a “risk improvement summary”
Product Liability and Recall
ALPS engineers have in depth experience in product liability and product recall in particular for the automotive and electronics industry. Our product in every case would be n underwriting risk analysis report.
We will use our own ALPS templates and be able to suggest to you the respective content, namely:
- A descriptive section describing the risk and comparing it within its industry and rank it with respect to its relative risk, e.g. comparing a certain component of a vehicle to other car components, thus being able to rank various automotive suppliers.
- A quantitative section, where – e.g. together with your actuarial team – we can develop a costing strategy also for products that are currently in a phase of strong change (e.g. electro mobility, batteries, etc)
ALPS can thus directly support a risk based costing approach for product liability and recall insurance offerings