Value your Properties without Being Onsite Presented by Shaun - PowerPoint PPT Presentation

Webinar Series Virtual Valuations: How to Collect Data and Value your Properties without Being Onsite Presented by Shaun Callahan, AssetWorks Risk Management Inc.

ASSETWORKS WEBINAR SERIES: VIRTUAL VALUATIONS YOUR PROPERTY RISK PROGRAM IN THE AGE OF COVID-19 www.assetworks.com/risk 2020 AssetWorks Risk Management Inc. Proprietary & Confidential.

ASSETWORKS WEBINAR SERIES: VIRTUAL VALUATIONS YOUR PROPERTY RISK PROGRAM IN THE AGE OF COVID-19 Save the Webinar 1 Virtual Valuations: Collect Data and Value Properties without Being Onsite April 23, 2020 | 2:00 EST/11:00 PST | 30 minutes Dates Webinar 2 Data Management: How to Analyze and Audit your Statement of Property Values April 30, 2020 | 2:00 EST/11:00 PST | 30 minutes Webinar 3 Get Technical: Change the Game with Property Risk Management Software May 7, 2020 | 2:00 EST/11:00 PST | 30 minutes http://my.assetworks.com/2020-webinar-series.html www.assetworks.com/risk 2020 AssetWorks Risk Management Inc. Proprietary & Confidential.

ASSETWORKS WEBINAR SERIES: VIRTUAL VALUATIONS WEBINAR AGENDA The Basics The Benefits The Process Use Cases www.assetworks.com/risk 2020 AssetWorks Risk Management Inc. Proprietary & Confidential.

ASSETWORKS WEBINAR SERIES: VIRTUAL VALUATIONS “CRISIS SPURS INNOVATION” A virtual valuation allows valuation professionals to complete an inspection and valuation service , similar to an onsite valuation, without the added costs (time, financial, health) of traveling to the site. To be successful, a virtual valuation requires strong communication (via phone and email) and collaboration between the valuation experts and the key points of contact for each site. www.assetworks.com/risk 2020 AssetWorks Risk Management Inc. Proprietary & Confidential

ASSETWORKS WEBINAR SERIES: VIRTUAL VALUATIONS THE BENEFITS OF VIRTUAL VALUATIONS Helps ensure accurate, up- Enables valuations to be to-date property data for completed in scenarios insurance renewals where access is limited Strengthens alignment Limits the strain on between valuation valuable resources like experts and insureds budget and time www.assetworks.com/risk 2020 AssetWorks Risk Management Inc. Proprietary & Confidential.

Webinar Series VIRTUAL VALUATION CASE STUDY

ASSETWORKS WEBINAR SERIES: VIRTUAL VALUATIONS SOME BACKGROUND INFORMATION Completed for a single, new member of large property risk pool Had great collaboration between AssetWorks’ Valuation Consultants and key contacts Leveraged technology (internal and external) to facilitate communication and data collection www.assetworks.com/risk 2020 AssetWorks Risk Management Inc. Proprietary & Confidential.

ASSETWORKS WEBINAR SERIES: VIRTUAL VALUATIONS THE PROCESS KICKOFF MEETING INTERNAL VIRTUAL WALKTHROUGH VIRTUAL WALKTHROUGH W/INSURED Initiate communications and Virtual inspection of all locations conducted Virtual walkthrough of all locations via video general alignment with the key by the AssetWorks Project Manager using conference conducted to review each building points of contact. Google Earth Pro. and identify PITO using Google Earth Pro. Create a list of questions to ask during the virtual walkthrough. • e.g. Was there an addition put on this building? It looks like the sq. ft. changed. ON-SITE DATA COLLECTION BUILDING VALUATION REPORT DELIVERY If needed. Conducted by the Exact same process we use for AMP Software w/standard, designated contact.​ on-site valuations. custom, and ad-hoc reporting tool. Assisted by the AssetWorks Project Manager & Mobile Application. www.assetworks.com/risk 2020 AssetWorks Risk Management Inc. Proprietary & Confidential.

ASSETWORKS WEBINAR SERIES: VIRTUAL VALUATIONS THE PROCESS KICKOFF MEETING INTERNAL VIRTUAL WALKTHROUGH VIRTUAL WALKTHROUGH W/INSURED Initiate communications and Virtual inspection of all locations conducted Virtual walkthrough of all locations via video general alignment with the key by the AssetWorks Project Manager using conference conducted to review each building points of contact. Google Earth Pro. and identify PITO using Google Earth Pro. Create a list of questions to ask during the virtual walkthrough. • e.g. Was there an addition put on this building? It looks like the sq. ft. changed. ON-SITE DATA COLLECTION BUILDING VALUATION REPORT DELIVERY If needed. Conducted by the Exact same process we use for AMP Software w/standard, designated contact.​ on-site valuations. custom, and ad-hoc reporting tool. Assisted by the AssetWorks Project Manager & Mobile Application. www.assetworks.com/risk 2020 AssetWorks Risk Management Inc. Proprietary & Confidential.

ASSETWORKS WEBINAR SERIES: VIRTUAL VALUATIONS THE PROCESS KICKOFF MEETING INTERNAL VIRTUAL WALKTHROUGH VIRTUAL WALKTHROUGH W/INSURED Initiate communications and Virtual inspection of all locations conducted Virtual walkthrough of all locations via video general alignment with the key by the AssetWorks Project Manager using conference conducted to review each building points of contact. Google Earth Pro. and identify PITO using Google Earth Pro. Create a list of questions to ask during the virtual walkthrough. • e.g. Was there an addition put on this building? It looks like the sq. ft. changed. ON-SITE DATA COLLECTION BUILDING VALUATION REPORT DELIVERY If needed. Conducted by the Exact same process we use for AMP Software w/standard, designated contact.​ on-site valuations. custom, and ad-hoc reporting tool. Assisted by the AssetWorks Project Manager & Mobile Application. www.assetworks.com/risk 2020 AssetWorks Risk Management Inc. Proprietary & Confidential.

ASSETWORKS VALUATION SERVICES DATA RESULTS Basic Data - Original www.assetworks.com/risk 2020 AssetWorks Risk Management Inc. Proprietary & Confidential.

ASSETWORKS VALUATION SERVICES DATA RESULTS • 12 New Buildings • Updates to SQ’ • Updates to ISO Basic Data - Updated www.assetworks.com/risk SQ’ Rounded to the Nearest 1,000 2020 AssetWorks Risk Management Inc. Proprietary & Confidential.

ASSETWORKS VALUATION SERVICES RESULTS Complete Data - Original www.assetworks.com/risk 2020 AssetWorks Risk Management Inc. Proprietary & Confidential.

ASSETWORKS VALUATION SERVICES DATA RESULTS Complete Data - Updated www.assetworks.com/risk 2020 AssetWorks Risk Management Inc. Proprietary & Confidential.

ASSETWORKS VALUATION SERVICES VALUATION RESULTS New buildings found No more rounded square footages ISO Classifications verified / corrected Many more data points per building Contents modeled for all buildings 21% increase in Total Insurable Value (TIV) Results delivered in AMP Risk Platform www.assetworks.com/risk 2020 AssetWorks Risk Management Inc. Proprietary & Confidential.

ASSETWORKS WEBINAR SERIES: VIRTUAL VALUATIONS SOME USE CASES FOR VIRTUAL VALUATIONS + For Properties New to To Support an In-House For Reappraisals of your Portfolio Valuation Team Existing Properties For Complex Structures with As Part of a Complete Knowledgeable Personnel Property Program www.assetworks.com/risk 2020 AssetWorks Risk Management Inc. Proprietary & Confidential.

ASSETWORKS WEBINAR SERIES: VIRTUAL VALUATIONS A COMPLETE PROPERTY VALUATION PROGRAM $250K Threshold = 90%-95% of TIV & 25%-45% of Line Items $1M Threshold = 80%-90% of TIV & 15%-25% of Line Items Property Thresholds $10M - Onsite Property Valuation Software Solution $5M - Onsite Virtual Valuations (e.g. AMP Valuation Estimator) Property Property Valua- $1M - Valuations tions Virtual Property Valuations $250k - Valuation Software Solution (e.g. AMP Valuation Estimator) Existing Properties Newly Acquired Properties Phase 1 (current) Phase 2 (2021) Phase 3 (2022) Phase 4 (2023) Current Phase Not In Current Phase www.assetworks.com/risk 2020 AssetWorks Risk Management Inc. Proprietary & Confidential.

ASSETWORKS WEBINAR SERIES: VIRTUAL VALUATIONS A COMPLETE PROPERTY VALUATION PROGRAM $250K Threshold = 90%-95% of TIV & 25%-45% of Line Items $1M Threshold = 80%-90% of TIV & 15%-25% of Line Items Property Thresholds $10M - Onsite Property Valuation Software Solution $5M - Onsite Virtual Valuations (e.g. AMP Valuation Estimator) Property Property Valua- $1M - Valuations tions Virtual Property Valuations AssetWorks Webinar Series $250k - Valuation Software Solution (e.g. AMP Valuation Estimator) Data Management: How to Analyze and Audit your Statement of Values Existing Properties Newly Acquired Properties April 30, 2020 | 2p EST/11a PST Phase 1 (current) Phase 2 (2021) Phase 3 (2022) Phase 4 (2023) Current Phase Not In Current Phase http://my.assetworks.com/2020- webinar-series.html www.assetworks.com/risk 2020 AssetWorks Risk Management Inc. Proprietary & Confidential.

ASSETWORKS RISK LEADERSHIP TEAM MEETING: SALES & MARKETING UPDATE Questions www.assetworks.com 2019 AssetWorks LLC. Proprietary & Confidential.