Most projects already deploy reality capture platforms. At placement, or extension, it has been worth nothing, because insurers never had an efficient way of managing this data.
This calculator shows what the value of leveraging that data is for the insured and the insurer — specifically focused on the Delay In Start Up (DSU) premium and waiting period. Go ahead and see what the numbers look like for your project.
Days off the waiting period that repay the entire capture spend.
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Deployed reality capture systems hold the missing evidence: a continuous, timestamped record of what was built and when, generated by systems rather than by a party to any potential claim.
Granting days against verified data is not a blind concession. In exchange, the insurer gets real-time performance data, a record to verify a potential claim against, and the visibility to help the insured get back on track. Days are the cheapest thing an underwriter can give, and the most valuable thing the insured can receive.
Spend already committed to the build comes back as cover. Every day recovered moves a day's value of exposure off the balance sheet and onto the policy.
A lever at placement or extension that is not price. A discount is capped at the premium; days are capped only by the waiting period itself and are more valuable to the insured.
Reward the value of granular, verifiable progress data but retain premium. In place of monthly self-reporting — sight of performance as it happens, and a record to verify and help the insured complete on time.
The figures above, laid out, with a link that reopens them exactly as you left them — so you can send it to an interested party.
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Every figure is worked out in your browser. Nothing you type is sent anywhere unless you ask us to email it to you — and if you do, we send it and keep no copy. Pikt records and structures site data; it is not an insurer, broker or MGA, and gives no insurance advice.