InRisk – InRisk

25 Years of service to our clients and the Insurance industry.

Let us assist you to be correctly insured!

Company Profile

Inventory & Risk Surveys was established in March 1996. Also known as InRisk, the company has grown over the past 25 years to become one of the industry leaders in commercial and residential valuations.

Together with our strategic partners, Riskonet Africa (Pty) Ltd, we also provide a number of risk management services to local and international insurance companies, underwriting managers, insurance brokers, public and private companies globally. Riskonet have offices in more than 16 countries across 5 continents. (www.riskonet.com)

The strength of our offering stems from collaboration between our international offices where we are able to share learnings and develop solutions through an international brains trust. Thus, assuring you our client, the right answer to your needs at all times.

Our objective is to facilitate a valuation which provides our client with accurate asset values. For short term insurance purposes, this provides you the client with the peace of mind when declaring insured values or when proving ownership of assets. The more clarity and accuracy is provided to the underwriters, the less chance of claims being repudiated or average applying which will leave the insured significantly exposed. A properly conducted valuation will also result in the correct premium being paid which protects both the insured and the insurer. Claims settlements are significantly improved where our valuation and proof of ownership is established.

To meet the diverse needs of our clients, we provide specialist resources in various fields of asset valuation and risk management consulting services. This allows our clients the added benefit of deal with a single trusted advisor for all their valuation and risk management consulting needs.

FREQUENTLY ASKED QUESTIONS

WHY SHOULD I HAVE AN INRISK VALUATION DONE?

Fires, burglaries and unforeseen accidents resulting in damage or the total loss of your assets results in significant trauma to your family, your business and those impacted such as staff, clients and suppliers.

At times like this, a good valuation will assist your broker to expedite your claim and assist your insurer to agree the value of the claim mush faster.

A recent industry survey revealed that 96 % of insured South Africans find themselves underinsured. The danger of being underinsured lies in the fact that an insurance principle called “average” can be applied at the time of a claim which could result in the client receiving a considerably smaller pay out than the value of the loss.

An example of average for a residential client:

Mr Client was insured for R200 000. The insured had a loss and submitted a claim totalling R70 000. An insurance assessor valued his household contents at R300 000. Instead of paying the client R70 000, the insurance company had the right to apply average and only paid 66.6 % of the claim, an amount of R46 666. This resulted in the insured only being able to replace two thirds of his possessions due to be underinsured.
Had the client had a valuation done, the correct sum insured would have been declared and the insurer would have paid the full value of the claim.

Having serviced the industry for 25 years, our statistics show that South Africans are currently 45 % underinsured for residential household contents, and 34 % underinsured on residential buildings.

WHO CARRIES OUT THE VALUATIONS?

All our valuations are carried out by experienced valuators.

Specialist fields of valuation require the person to be technically trained and qualified such as in the case of building valuations as well as commercial plant and equipment valuations.

We pride ourselves in having one of the largest teams of residential and commercial valuators in South African. From our offices in South Africa, we service all African territories including the Indian Ocean Islands.

WHAT HAPPENS AFTER THE VALUATION?

On completion of a valuation, a report is produced for the client. All reports are issues to the principal who requested the work and who is responsible for the fee. In the case of residential valuations, the completed report is sent within 15 working days of the site inspection. In the case of commercial valuations, the report deliver date is agreed with the client based on the size and complexity of the project.

We allow our clients 30 days to review the report.

It is recommended that a valuation should be updated every year to ensure the most current value is used for insurance declaration purposes.

WHAT ABOUT FINE ARTS AND ANTIQUES?

In cases where the art or antiques are not of a high value or rare in nature, our valuators and office staff will be able to assist the clients in arriving at a reasonable agreed value.

High value or rare pieces and collections need to be assessed by our specialists in the respective field of valuation. We provide a full range of specialist services. Our representative will visit your location and provide the required valuation.

Specialist services fall outside the normal valuation process and are charged for separately.

CAN YOU VALUE MY JEWELLERY?

As in the case with fine art or high value antiques, our jewellery appraiser can be called upon to certify your pieces at your premises by appointment.

Specialist services fall outside the normal valuation process and are charged for separately.

WHO NEEDS TO BE PRESENT AT THE VALUATION AND HOW LONG WILL IT TAKE?

Depending on the type of valuation, the owner in the case of personal assets or the relevant company representative in the case of commercial valuations should be present at the time. In the case of Commercial Plant, Equipment and Content valuations, a Fixed Assets Register (FAR) will be useful in determining the time required on site.

Residential valuations will require between 2 hours and 4 hours to complete depending on the size and number of assets that need to be assessed.

SHOULD I WAIT FOR THE POLICY RENEWAL DATE TO HAVE A VALUATION DONE?

Unforeseen losses occur when you least expect it. Valuations should be undertaken sooner rather than later to avoid any problems that may lead to the repudiation of a claim or the adjustment of the value of the loss as a result of underinsurance.

In some cases, clients may have over-insured based on unreasonable inflationary increases. This is especially true of imported assets where the exchange rate fluctuates significantly over time or where specific categories of assets have reduced in price such as certain types of electronic equipment. In such instances a valuation will provide the correct lower value, which may result in a lower premium.

There is no better time to do a valuation than if a professional valuation has not been done before. In the case where a professional valuation has previously been completed, it is recommended that these valuations are updated on an annual basis.

HOW IS YOUR PERSONAL INFORMATION PROTECTED?

If you choose to use our Service, then you agree to the collection and use of information in relation with the POPI Act and our POPIA Manual. The Personal Information that we collect is used for providing and improving the Service we offer. We will not use or share your information with anyone except as described in our Privacy Policy and as necessary to perform our Service. For a better experience while using our Service, we may require you to provide us with certain personally identifiable information, including but not limited to your name, phone number, and physical address. The information that we collect will be used to contact or identify you in order for us to perform our Service. All data and reports are stored on a secure server.

WHAT IS OUR COVID-19 POLICY?

As a Socially Responsible COVID-Ready Workplace InRisk ensures that our valuators will have a face mask and hand sanitiser with them when arriving on site. In the case of commercial or post loss valuations they will have all relevant personal protective equipment required for the task as may be appropriate (i.e., safety hat, safety shoes, safety vest, hearing protection and eye protection), and will ensure that they maintain appropriate social distancing at all times which requires 1.5 metres when engaging with other people.

CONTACT US

Inventory & Risk Surveys (Pty) Ltd

Physical Address:
19 Plover Street
Fourways
Johannesburg
Gauteng
2191

Postal Address:
PO Box 1310
Ferndale
Johannesburg
2160

Janene Des Fountain

Strategic Client Relationship Manager
064 514 7563

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25 Years of service to our clients and the Insurance industry.

Residential

Specialised

Post Loss

Commercial Property

Commercial Contents

Risk Assessments

Company Profile

FREQUENTLY ASKED QUESTIONS

CONTACT US

Inventory & Risk Surveys (Pty) Ltd

Janene Des Fountain

Enquiries