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Reducing Inspector Risks During Catastrophic Response

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The risks associated with disasters extend far beyond the initial destruction. For insurers, disaster damage assessment and claims processing can pose both significant financial risk as well as introduce personal risks for claims inspection teams. The safety of these teams is dependent upon a strong understanding of the situation on the ground. As a result, insurers need to take steps to maintain visibility of the situation, efficiently handle damage claims processing, and, above all, limit the risk exposure of claims and response teams on the ground.

Utilize credible catastrophe information
Having accurate geographic information to pinpoint potential asset damage before deploying inspection teams can aid faster claim resolution and provide more efficient claim processing. Looking to trusted resources that offer key data on approaching catastrophes can help teams better prepare for the situation at hand. The National Oceanic and Atmospheric Administration (NOAA) offers constant information and updates on pending and current weather conditions, storms and other catastrophes to allow organizations to stay up-to-date on the latest conditions. Likewise, the Federal Emergency Management Association (FEMA) can also offer deeper insight into disaster recovery efforts so that adjusters are prepared for the situations they walk into.

Knowledge is power when it comes to efficient claims processing and safe deployment of inspection agents. Data from credible resources allows adjusters to more safely maneuver through potentially hazardous conditions. But even the wealth of knowledge offered by NOAA and FEMA is often not enough to minimize an organization’s post-disaster risk profile.

Emphasize image collection of disaster areas
When disaster hits, roads can become impassable, buildings can become structurally unsound, and areas can become impossible to access. The last thing an insurer wants to do is send its claims adjusters into a hazardous zone unprepared.

Preparation is key to effective claims inspection that minimizes time in the field and the risk of unforeseen, hazardous circumstances. To that end, satellite and drone imagery have become key technologies used by insurance companies to improve processes and protect claims adjusters.

The concept of satellite and drone imagery to assist in claims processes and reduce inspector risks is hardly a new concept. Novarica recently estimated that nearly 20% of P&C carriers are pursuing imaging solutions. In fact, PricewaterhouseCoopers forecasts that drones alone will have a $6.8 billion impact on the insurance industry in the coming years.

Satellite imagery provides wide-area, high-resolution analysis of damaged areas to help organizations understand the breadth of the damage, while drones can be deployed to specific sites to conduct detailed damage evaluations at a micro-level. Combining satellite and drone imagery can give teams a full view of the extent of catastrophic damage so they know exactly what to expect upon on-site inspection.

In some cases, detailed imagery and analytics can often provide enough information to prevent adjusters from ever having to set foot on a property, allowing them to accurately and efficiently process claims from the safety of a desk. In fact, Cognizant estimated that drone usage can make a claim adjuster’s workflow 40% to 50% more efficient, which can be especially important when managing the high number of claims that come in response to a catastrophe. This can also decrease claims management costs, help protect the well-being of employees and significantly reduce adjuster accidents.

The amount and strength of natural disasters in the U.S. will not decrease anytime soon. But the use of credible information resources and thorough imaging technology can help insurers reduce their financial and safety risks, so they can better help others address their own.

Q&A: Resiliency in India

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The 2018 Lloyd’s City Risk Index was analyzed during the RIMS Risk Forum India in Mumbai, and it notes a possible turning point for the subcontinent’s cities regarding resiliency. In short, Indian cities were rated as weak, but recent government and public investments and campaigns that focus on strengthening infrastructures and people may strengthen those assessments.

During a November 14 morning session, “Assessing the Impact of Natural and Man-made Threats on India’s Economy,” Shankar Garigiparthy, country manager and CEO of Lloyd’s India discussed how much economic output (GDP) cities in India could lose annually as a consequence of various types of rare risk events – such as the Kerala floods this past July – or from more frequently occurring events such as cyberattacks.

He discussed with Risk Management Monitor reasons why he is hopeful for a resiliency turnaround in India and how the combined wills of the government, media, public and business can strengthen the country’s infrastructures and ultimately, its risk ratings.

RMM: How do India’s cities rank in Lloyd’s City Risk Index?

SG: Lloyd’s City Risk Index was published three months ago and we researched 279 cities. We found that a vast majority of cities within the subcontinent of India have been rated as very weak from a resilience point of view. They are at high risk for flood, geopolitical security, market crash, just to name a few.

RMM: What steps are being taken to improve the collective resiliency?

SG: What we have seen in last three or four years is a significant level of investment from the government in terms of building infrastructure. It’s been in the form of roads, bridges, railways, ports, and airports, there has been a significant level of investment. And it seems there is more to come. In the budget, the government has announced more – which is encouraging to see from an infrastructure-building point of view.

However, where we still see a bit of lack is in the area of insurance penetration in the country. That’s where I think insurance companies can be a useful partner and tool to mitigate some of the level of these risks.

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RMM: Could this be a chance for insurers to get in on the ground floor of India’s improvement projects?

SG: Yes.

RMM: What incidents have influenced the government to act?

SG: The Chennai floods [in 2015] and the floods in Kerala [in July]. That was a once-in-a-hundred-years occurrence. The entire state was flooded, which I think was the first of its kind. It was completely underwater.

Similarly, the Chennai floods marked another major event. Since then, monsoon has happened but the level of flooding has been managed pretty well.

In the session, we examined the Mumbai floods in 2005. And even last year, there was flooding here for a day, but within a day the water receded pretty quickly and was pumped out. The machinery kicked in and we were able to get out of it pretty well.

RMM: What led to that success?

SG: It was a combination of low tide and the government investing in the necessary pumping mechanisms to actually pump the water back into the sea, and unclog some of the stormwater drains as well. Steps are being taken, slowly but steadily.

RMM: What other institutions are taking measures to build resiliency?

SG: There are a few companies [which I won’t name] that are leading the way and it is encouraging to see that.

The media is also equally playing a fairly significant role as well. That’s also helping because public awareness is something that is critical. The media is raising awareness in terms of the importance of protecting your infrastructure and environment and the need for trees and planting.

RMM: Would you agree that the will to change and improve existing infrastructures is as important as the funding?

SG: I think it’s all there. The government has shown willingness to improve infrastructure. The people have demanded it, so there is a push and a pull coming from both sides. And we are seeing that development happen. Compared to where we were five or ten years ago and where we are now, there’s been a massive change.

There is still more that can be done. I’m not saying that we’re there yet. But it’s not an easy thing, as well.

Given India’s geography and how the political scenario is within the country, we will always be exposed to natural catastrophes.

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Flooding is going to be a constant phenomenon for us.

There is investment being done but it’s patchy. In some states there has been fantastic infrastructure investment and in others, less so. I think that has got to be addressed and that’s where the public [should be] demanding more actions there, where infrastructure investment has not been up to the mark.

Eyes on the Road, Hands on the Wheel – Organizations Focused on Distracted Driving

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It is probably not shocking to learn that distracted driving is fast becoming a huge problem.

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The introduction of the smartphone, that clever device that allows you to text, email, speak with a friend and, ugh, take a video of yourself hopping out of your car and dancing while it’s in drive, is right at the center of the blame.

For parents, the thought of their newly licensed teenager taking the family sedan out – with their phone in hand – can be frightening.

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And, it should be. According to the Children’s Hospital of Philadelphia distraction was a key factor in 58% of crashes involving drivers ages 16 to 19.

But, distracted driving is not something that only parents should worry about. “When it comes to preventing distracted driving, people often worry about their teenage drivers — but what about conversations happening at the office or while people are on the job?” said Jordan Solway, Group General Counsel and Vice President of Claim, Travelers Canada.

Travelers’ public policy arm, The Travelers’ Institute, recently commissioned a poll that highlighted the importance for businesses to identify the risks of distracted driving with their employees. The poll found that 37% of Canadian drivers answer or make communications while driving. Of these drivers, 14% cited “wanting to always be available for work.” as a key reason for their distractions behind the wheel.

But, always being connected can create risks. “When you’re involved in a conference call, you’re paying less attention to your surroundings,” Solway said. “Driving is a complex function that requires visual (eyes on the road), physical (hands on the wheel) and cognitive processing. Taking your eyes off the road for just two seconds actually doubles your chances of an accident.”

Countless organizations, public agencies, universities and other businesses employ the use of fleets, while other organizations rely on their employees to drive from location to location in their own vehicles as part of the course and scope of their responsibilities.

“In Ontario, similar to other provinces, it really does not matter if the vehicle is owned by the employee or the organization, if there is an accident caused by distracted driving and the driver was in the course and scope of his or her employment, the organization can be held liable,” Solway said. “This isn’t something just big businesses need to worry about.  In fact, the opposite. A distracted driving judgment against a smaller, neighborhood business has the potential to have significant financial consequences.”

The 2012  $21 million jury award against Coca-Cola for a distracted employee who was driving was a wakeup call to all organizations that:

1) companies can be held liable for their employees who operate vehicles while distracted,
and
2) organizations can even be considered negligent if they do not have a distracted driving policy or if their policy is inadequate.

There is a great opportunity for risk professionals to step in and develop policies procedures that address distracted drivers and mitigate the consequences of their actions to their organizations.

“Fundamentally, every business should have a [distracted driving] policy. There should be training on the policy. And, not only should the policy require compliance with the applicable law, but also, it should have clear direction on how and when mobile devices should be used in a vehicle,” Solway said.

Travelers Canada recommends four key steps to making a distracted driving policy more effective:

Training and continuing education are great but it shouldn’t stop there. “The organization has to enforce progressive disciplinary action against those violating the policy,” he said.

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“They must be warned and dealt to further demonstrate that the organization is serious when it comes to distracted driving.”

Technology will be a key solution to combatting distracted driving. Most new vehicles are equipped with hands-free technology, cellular devices now feature a Do Not Disturb Function and some organizations have installed video recording devices in vehicle cockpits – all great options for promoting safer driving habits.

“In the not so distant future sensors, collision warnings, smarter-cars and autonomous vehicle operating systems could help keep drivers’ eyes on the road, hands on the wheel and minds focused on safe driving,” Solway said.

RIMS Risk Forum 2018 India Kicks Off In Mumbai

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MUMBAI – The inaugural RIMS Risk Forum 2018 India launched on November 13, and leading risk professionals from India and Asia-Pacific countries met for two days to address the challenges facing companies in the region. In a country of 1.3 billion people, expectations are for India’s risk management profession to grow, though some presenters acknowledged the proactive need to fill a potential talent gap.

During the opening keynote address, Dr. Viswanathan Ragunathan, CEO and general manager of the Varalakshmi Foundation said that examining the role of risk in Indians’ behavior and culture will initiate the dialogue among students and aspiring professionals.

“We are obviously a contradiction,” he said. “We are, at once, eternal optimists and fatalistic. At one level you can relate to what I’m saying in that Indians do not take too much risk in their day-to-day lives. Yet anyone who has taken the Mumbai trains knows…it’s almost as if we have a death wish.”

Ragunathan also discussed approaches he tends to use to assess risk, including viewing them in a VUCA environment (volatility, uncertainty, complexity and ambiguity), where one weighs how much of a situation is known against the results of controllable actions and their predictability.

“The management of volume,” he said, is ultimately at the heart of India’s challenges, and that issue is exacerbated by interconnected risks, such as a dense population and struggling infrastructure. He proposed transparency and broad communication within the Indian risk management community as starting points for solutions.

“The risk manager who understands the risk but does not share it widely does not help,” he said.

As the forum progressed, ISO31000 implementation, natural disasters and resilience, infrastructure, risk frameworks, data storage and diversity hiring practices were some of topics that received special focus on Tuesday.

“The State of Risk Management in India” was a Marsh-led panel on the findings from the newly-released, India-wide survey on risk management practices co-conducted by RIMS. The report found that risk managers are a crossroads in India, where they can assume greater leadership roles that transcend just compliance and insurance matters and can expand their knowledge base, hone their skillsets and gain access to best practices, tools and technology.

During “Thinking About Thinking in Risk Management,” Peter Young, PhD of the University of St. Thomas’ Opus, discussed the major questions facing risk managers today. He discussed how, according to his findings, experience rises dealing with uncertainty – as opposed to risk – as one looks further up on the corporate ladder.

“Risk is uncertainty when you have the capacity to measure it, and when you get to the executive suite you hardly ever deal with risk at all because you’re responsible for the strategy,” he said. “I would submit that’s broadly true among organizations at all levels. We are little ships bobbing in a big sea of uncertainty.

“[Executives] can bring a level of comfort operating in an environment of uncertainty. That turned out to be only partly true, but we think it’s an abiding truth that is slowly revealing itself.”

“Diversity in Corporate India” inspired some spirited discussions about how women’s voices and the concept of assumption are emerging as integral parts of hiring practices throughout organizations in India. Panelists were Ragunthian, Praveen Gupta, CEO of Raheja QBE General Insurance Co., and Carissa Hickling, Talent Acquisition Strategy and Technology Global Consultant for Siemens Technology India.

They spoke of how efforts to better represent women have progressed. Additionally, gay and lesbian communities are experiencing a new level of acceptance now since September, when the Supreme Court of India ruled parts of Section 377 – which was introduced in 1864 – was unconstitutional for criminalizing homosexuality. The panel agreed that while talent itself should win above all else, they acknowledged that it was a sign of progress for the nation and should be thought of as such by its corporate sectors. Hickling explained how Indian companies can now use be more open-minded in their hiring and promotion practices.

“When we look at onboarding plans and organizations, these are the moments of truth,” she said. “We can have conversations about making a small change to our HR system because this is an opportunity to change the first impression of our organization.”

She added that Siemens leadership is taking the initiative to recognize same-sex partners when discussing health benefits and taking the progress a step further extending the welcoming to transgender workers. “This is all happening very fast,” she said, “but it is a time when an organization can demonstrate that this is a time when this does matter.”

For more coverage of the forum, visit Risk Management Monitor’s Q&A with Shankar Garigiparthy.

Live RIMScast coverage of the forum is also available. Download Speaking with Leaders in Risk Management Part I and Part II.

And exclusively for RIMS members, download Peter Young’s audio live from Mumbai: Thinking about Thinking in Risk Management: New Skills for the Future.