A better way to underwrite large real estate business

Writing large real estate business as a broker can be complex and resource intensive. From designing layered programs to marketing to carriers, negotiating, sourcing, and maintaining the coverage clients need can be a real headache.

What if there was a way to radically streamline this process by writing 100% of a given real estate policy with a single carrier? With FM Affiliated, you can - for clients with billions in total insured value (TIV), millions in premium and thousands of locations worldwide.

With reference to real client stories, this article shares how our unique approach to property insurance makes this possible. It reveals why writing your large real estate business with us will empower you to streamline processes, eliminate unnecessary admin, ensure claims excellence, and build stable, long-term client relationships.

Unpacking the benefits of a 100% capacity approach

Replacing the traditional, consortium-led model for writing large real estate business with an approach that secures 100% capacity can help brokers like yourself unlock benefits including:

1. Streamlined administration. When you write 100% of a client’s policy through FM Affiliated, you eliminate the need to negotiate policy wordings with multiple carriers or to periodically return to the market when one of them decides to exit the risk. We also handle admin tasks for our brokers, freeing up bandwidth for you to focus on deepening client relationships. Our client service approach includes establishing a service level agreement to answer queries, issue endorsements, and policies.
2. Comprehensive and consistent coverage. Our global footprint, standardised operating model, and broad policy wordings help to ensure your clients receive the coverage they need across all the locations they operate in. FM’s exceptional financial stability means you can count on us to be there when your clients need us.
3. Enhanced resilience. Gain a clearer picture of the condition of the properties in your clients’ portfolios and help them to maximise safety for their occupants with our risk reports and engineering-led approach. Our detailed experience in real estate means we know where and why losses happen and can guide clients on risk prevention to avoid frequent and severe losses.
4. Claims management excellence. In the event of a loss, our claims team will support you and the client to address restoration of normal operations as quickly as possible. FM Affiliated loss adjusters have “on the spot” authority to handle losses from start to finish, including confirmation of cover and rapid processing of payments.

Deepen client relationships with our unique approach

FM Affiliated has extensive experience in the real estate sector. Real estate represents more than half the business on our books, and our ability to provide high limits and meet the demands of financing banks makes us the carrier of choice for some of the world’s largest real estate owners.

As part of FM, we are backed by $26.2 billion (USD) in capital, and our whole capital base is dedicated to commercial property insurance. This is what lets us offer hassle-free 100% capacity coverage.

We also understand that every client is unique, and we personalize our services flexibly based on their specific needs. For example, one of our European real estate clients had facilities in North America and Asia that were never visited while they were insured by other carriers. When we took over the account, they gained valuable insights into their risk landscape for those facilities.

Another of our clients had 5,000+ locations. To provide them with valuable risk insights, we identified which locations are most important based on the types of premises in their portfolio and the risk exposures present at them. Together, we agreed a personalised plan to assess selected locations per year to gather the necessary insights and keep the business resilient.

Through client-centric solutions such as these, our underwriters, engineers, and loss adjusters strive to provide unbeatable coverage and help you nurture stable, long-term client relationships.

If you have a large real estate client you think could benefit from our services and expertise, we’d love to hear from you. Submit a new business enquiry here and we’ll be in touch ASAP.

This is part of a series of articles FM Affiliated is producing to help brokers understand the value we can provide to their commercial property insurance clients. Look out for the next post in this series for more valuable insights.