Integra launches new entity to offer risk engineering
UK-based loss adjusting business Integra Technical Services has launched a new subsidiary to offer risk engineering management to select specialty lines sectors.
The newly formed business, Integra Risk Services, will initially target the construction, engineering, and energy including renewables markets.
Its offering will enable insurers to closely monitor their portfolio of live projects to ensure the appropriate amount of risk engineering is being applied, the risk engineers’ reports are being delivered on time and costs being managed tightly.
Integra said the subsidiary will complement its loss adjusting business.
Paul Latimer, managing director of Integra Risk Services, said: “Having spent over 25 years within the insurance industry as both a broker and an underwriter, I am fully aware of the challenges faced by insurers and brokers in the delivery of risk engineering programmes.
“Our goal is to provide a trusted and reliable outsourced service to our clients that will provide time savings in excess of 120-man hours associated with programme development, fee management and administration per project. I am delighted by the support and feedback received from the market so far and I look forward to creating value for our clients going forward.”
Integra Risk Services will also offer additional services such as detailed electronic schedule analysis, pre-bind engineering reports, desktop reviews, and ESG due diligence.
Leo Dixon (pictured), chief executive officer of Integra Technical Services, added: “The importance of risk engineering on a construction policy is recognised by all, however for years insurers subscribing to projects have been paying for a service that is not being fully utilised or in some instances not provided at all.
“ Integra Risk Services has been developed to help solve this as well as other challenges the industry faces.”
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