Here’s What Our Launch Customers Are Saying about our newest Real Estate Offering:
LineSlip will be launching our latest enhancements to LineSlip Real Estate in the coming weeks. With this release, we’ll provide risk managers and commercial real estate asset managers instant access to premium allocation visualization and reporting by giving them complete visibility into their insurance coverage at the location level.
The Genesis of the Real Estate Offering
LineSlip Real Estate was created because of our CEO’s own frustration from managing and reporting on the commercial insurance program of a large real estate portfolio.
“When I was managing a commercial real estate property portfolio, I realized that there must be a better way to organize and analyze insurance program data,” said our CEO, Leo Bernstein. “My broker would give me Excel spreadsheets supported by a mess of PDFs. I struggled with visualizing the premium allocation across the scores of properties in our portfolio. And not to mention, real-time weather events always prompted a scramble to understand whether our properties were at risk of loss.”
LineSlip’s newest Real Estate offering sought to fix the problems that our CEO and many others in the real estate space deal with. The enhancement gives risk managers and commercial real estate asset managers a centralized dashboard through which they can understand, manage, and report on their insurance programs more effectively. The dashboard visualizes policy retentions, limits, premium expenditures, renewal schedules, mid-term program adjustments, significant portfolio changes (i.e., acquisitions, dispositions, changes in utilization, etc.), and current occupancy. These insights can be used to pinpoint cost drivers, identify and prioritize opportunities for risk control, and evaluate insurance program modification.
The feature we’re most excited about in the Real Estate offering is the location map with peril overlay, which gives risk managers both historical and real-time insights. With the increase in natural disasters and climate-related risks, risk managers can use the location map to view where their properties are and see the perils that have historically affected the locations of their properties. This will help risk managers determine what kind of insurance they need to allocate for each specific location. During a natural disaster, the feature offers the ability to track the natural threat in close to real-time, with the data pulled from the National Weather Service, and is updated every hour.
Launch Customer Feedback
We may be biased when we say that our new Real Estate enhancement will be a game-changer in the real estate industry, but don’t just take our word for it. Instead, here’s what our launch customers have to say about it:
One of our launch customers is Jason Weeks, Vice President of Risk Management at Hendrick Automotive Group. Hendrick Automotive Group is the largest privately held automotive retail organization in the United States, operating 132 franchise auto dealerships, 21 collision centers, and 4 accessories distributor installers in 13 states. With a footprint spanning from the Carolinas to California, there are a lot of different properties to manage in varied geographic environments. Jason’s responsibilities include managing the insurance program for all these different properties.
“I can see LineSlip Real Estate being beneficial to people who have been reliant on spreadsheets to manage property data. The Real Estate offering provides a quicker way to access information on properties, especially with all the historical data being in one place.”
John Couri, Manager of Risk and Insurance at CC Industries (or CCI), agrees with Jason. He believes that LineSlip Real Estate is readable and it’s much easier than viewing your locations in an Excel spreadsheet and updating your information there. Similar to Hendricks, CCI also has a lot of properties. CCI is a privately held management company for the operating assets of the Crown Family, which owns a diversified group of manufacturing companies, including leading businesses in transportation, food process equipment, packaging, high-quality spirits, real estate, and resorts. John is responsible for managing the global insurance programs for a multitude of properties across diverse geographical landscapes.
Both Jason and John were enthusiastic about the location map, which we were happy to hear since it was one of the items we were most excited about. When an individual hovers over a location on the map, critical information about that property will be displayed, such as the address, property type, acquisition date, square footage, Total Insurable Value, and more.
Peril Data
LineSlip Real Estate is currently able to track fire, flood, windstorms, and earthquakes:
For storms, the feature can track storms, from tropical depressions to Category 5 hurricanes.
For hurricanes, it will show information about the storm’s trajectory, wind speed, pressure, location, movement, and more.
For earthquakes, it can display any earthquakes greater than magnitude 5.0 on the Richter scale, including location, depth, and other critical information.
John Couri states, “This is everything that I’m looking for, especially when it comes to storms, fires, and floods.” He goes on to tell us that the biggest exposure and peril that CCI deals with for their properties is flooding. LineSlip’s new Real Estate offering allows John and other risk professionals the flexibility to display only the data that they find most critical on the location and peril map.
For this enhancement, we added new map views to allow users to view the map in light or dark mode, street view, satellite view, and topographic view. Jason from Hendrick especially liked that this option exists. As for John, he thinks satellite view would be useful to him since his company’s locations are spread out but still in a similar vicinity.
“The new LineSlip Real Estate offering has everything a Risk Manager needs to identify locations and their total insured value in the path of incoming storms, fires, and floods. The map and overlaying features are easy to read and having all the company’s locations identifiable on one map is a much-needed upgrade from the standard Excel spreadsheet. I will be using this product consistently throughout the year.”
Overall, Jason and John had a lot of positive things to say. John chimed in and said that the new offering is fantastic and in a great place. When we asked him what his favorite part was, he answered, “My favorite part is the Total Insurable Value since it’s very important for our locations, especially when it comes to property.” We’re excited to hear more about people’s favorite features once the Real Estate offering is officially rolled out!
LineSlip’s Real Estate Launch
We are hosting a virtual fireside chat to celebrate our Real Estate launch. During the event, we'll be talking to a couple of real estate and insurance executives. Keep your eyes peeled for more information on the webinar in the coming weeks!