Prior to starting work on an assessment or performing a risk quantification, Axio recommends adding existing or estimated insurance data to help modeling scenarios.
Adding Insurance Data
The following steps provide example data for customers that do not yet have any real insurance data to add to their models. None of this is required for your instance, but adding initial data provides a better experience during the different workflows.
1. From the left menu bar, select the Insurance icon.
Insurance menu
2. From the top center, select Add.
3. On the Add New Insurance Review modal, enter a Title. For example, this could be HOL - Insurance Review.
4. From the left adaptive menu, select New Policy.
Add Policy modal
Example of data to enter:
- Name: “Crime"
- Insurer:
leave blank Policy Dates:leave blankPrimary Policy:leave uncheckedCoverage Type: Crime- Quadrant: First Party Tangible
- Limit: $5,000,000
- Excess of $0:
don’t add anything Click Save.
5. Repeat the New Policy steps for other policies. The following table shows examples to use for training purposes:
Name Insurer Policy Dates Primary Policy Coverage Type Quadrant Limit Excess of
|
Cyber Policy
|
AIG
|
leave blank |
leave unchecked |
Cyber
|
Click on X to remove first-party and leave blank
|
$10,000,000
|
$0
|
|
Kidnap and Ransom
|
|
leave blank |
leave unchecked |
Kidnap and Ransom
|
First-party Tangible
|
$0
|
$0
|
|
Property and Casualty
|
Chubb
|
leave blank |
leave unchecked |
Property
|
First-party Tangible
|
$18,750,000
|
$0
|
6. Lastly we add an example policy with multple coverages, to simulate that type of insurance coverage. Click New Policy and enter the following example data:
- Name: General Excess Limits
- Insurer:
leave blank Policy Dates:leave blankCoverage Type: Employment Practices Liability- Quadrant: Third-party Tangible
- Limit: $2,000,000
- Excess of: $0 (DO NOT select SAVE yet)
- Under the General Excess Limits Insurance policy, select Add another type of coverage and add the following:
Coverage Type Quadrant Limit Excess of
|
Crime
|
First-party Tangible
|
$2,000,000
|
$0
|
|
General Liability
|
First-party Tangible
|
$1,000,000
|
$0
|
|
Directors and Officers
|
Third-party Tangible
|
$100,000
|
$0
|
Sample policy information
7. Click Save.
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