“I really think that people in the real estate portfolio world for environmental insurance spend half their time battling organization of the submission,” said Michael Gill of Synapse Services. (Photo: Blackboard/Shutterstock)

The insurance industry has faced the most significant digital revolution in the recent decade, completely changing how real estate portfolios are underwritten, bought and sold. In a hardening market, with narrowing carrier appetites, this puts pressure on real estate transactions to be adaptive, competitive, and meaningful with terms and conditions provided. The most significant barrier to meaningful terms and conditions is the ever-constant quality control of submission data between parties.

So, how does the quality control of submission data play such a key role? As Joe Quarantello of Risk Strategies said, “It starts and ends with a good submission.” Submission quality for a risk sets the foundation for a “win,” whether it be a broker to insured, an underwriter to broker, custom-designed technology systems for underwriters and brokers, and so forth.

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