Smarter risk management starts with earlier collaboration
Certain risks keep returning in the construction and infrastructure sector. Water damage on construction sites, injury incidents in the final minutes of a working day, communication issues between dozens of nationalities working on the same roof. These are situations many parties in the industry will recognise. The sector is becoming increasingly effective at identifying these patterns and developing a more structural approach to managing them.
Traditionally, insurance has been seen as the final step in a project. Yet earlier involvement from insurers is adding increasing value. DUPI Underwriting Agencies, a specialist in sectors including construction and infrastructure, sees the role of insurers shifting from simply covering risks to actively helping manage them.
From policy to partnership
“Bring us into the process as early as possible,” says Chris van Gorkum, Lead Underwriter CAR/Engineering at DUPI. “Insurance is still too often treated as the final step in the design process. But we can deliver real added value when we are involved at an early stage.” That involvement is very hands-on. Risk engineers and underwriters with different backgrounds sit down with contractors and clients and, in some cases, literally step onto the construction site. “I’d rather just put on my steel-toe boots,” says Van Gorkum. “Put me on site — I want to see it, I want to experience it.” From civil and mechanical engineers to liability specialists, every perspective contributes to a more complete risk profile. Van Gorkum stresses that recurring claims patterns are often the starting point for these conversations. “We regularly see water damage appearing in our data. That’s exactly why we try to make a difference with practical solutions. Think of automatic water shut-off systems on construction sites.” According to him, clients gain far more from these types of solutions than from higher premiums or increased deductibles.
New risks, new insights
The sector is changing rapidly. Prefab, modular construction, timber construction and the energy transition are creating risk profiles for which little historical data is available.
“The relevance of historical data is declining quickly,” says Van Gorkum. “We also need to look ahead and consider what new developments mean for insurability.”
Bernadette Bode, Underwriting Director Casualty, points to the broader picture. Through parent company SMABTP, with nearly 200 years of experience in construction, and through long-standing partners in the London insurance market, the company has access to expertise from a wide range of insurance markets.
International experience shows that bodily injury claims are becoming more complex and compensation levels are increasing. This creates opportunities to work together on the right approach to emerging claims challenges. Data supports the analysis, but the final assessment remains people’s work.“You can’t replace client contact and understanding what a client actually does with a computer,” says Bode.
By involving insurers earlier as a specialist discussion partner, companies increase the chance of identifying additional risks in time, adapting processes where needed and working structurally towards better long-term solutions.
