Wednesday, June 12, 2024

Riskbirbal Launches Free Fixed Asset Valuation Service Using Robust Data Analytics

The service incorporates data from Wholesale Price Index (WPI) and Consumer Price Index (CPI) to assess the value of company assets.

New Delhi, December 21, 2023: Riskbirbal Insurance Brokers, a Delhi-based insurance broking company, has launched a remarkable free-of-charge Fixed Asset Valuation service to aid customers in determining the current value of their company assets. This data analytics-driven process assesses the value of the assets quickly and helps policyholders avoid the under-insurance deduction at the time of claims as well as save premiums in the policy.

The new Fixed Asset Valuation service is a robust, agile and seamless way to determine the current value of a company’s assets, including but not limited to Buildings, Plant and machinery, Electrical Machinery, Electronic Items, IT Equipment/ Laptops, IT Hardware, and much more.

This valuation is based on a meticulous methodology that leverages a robust calculation process, incorporating data from the Wholesale Price Index (WPI) and Consumer Price Index (CPI) of various assets and commodities spanning almost five decades. This helps ensure a thorough and accurate assessment, vital for insurance purposes.

Asset valuation is crucial for businesses to correct the values of assets for the purpose of knowing the replacement cost of the assets so that they can plan well if they need to buy a replacement, also for the property insurance they must have the right value (sum insured) to be insured in conjunction with the ‘reinstatement value clause’ so that at the time of any accidents insurance company pays the right amount of reimbursement  matching to the loss amount, furthermore, by right  assets valuation businesses  understands their   worth especially when it is looking to sell the business or seeking investment. Such valuations also assess the financial health and growth potential of the company.

“We aim to empower businesses through precision, technology and a commitment to excellence. At Riskbirbal Insurance Brokers, we’re not just valuing assets; we’re valuing the trust our clients place in us. In a world of uncertainty, we stand firm—driven by integrity, guided by innovation, and dedicated to ensuring your journey towards success is safeguarded at every turn,” said Syed Meraj Naqvi, CEO & Principal Officer, Riskbirbal Insurance Brokers.

Riskbirbal’s valuation methodology aligns with industry standards and is the preferred approach by surveyors and loss assessors. The use of WPI and CPI, along with prudent approximations and mark-ups, ensures a calculated and expected reinstatement value. This makes Riskbirbal’s methodology a valid and widely practiced means for claim settlement.

The Fixed Asset Valuation can be conducted via a simple process. Customers can input details of their assets in Riskbirbal’s intuitive online platform which seamlessly synchronizes with the WPI and CPI. Using a robust calculation engine, the platform processes the data to determine the value of assets.

Along with offering tailored risk assessment based on industry standards, Riskbirbal also engages customers in real-time consultations with experts through its platform giving a comprehensive and transparent report detailing the valuation results. Furthermore, to protect customer data, Riskbirbal’s services are implemented with robust security measures adhering to data protection regulations and industry standards.

This unique blend of precision, data-driven accuracy, data security and insurance preparedness, makes Riskbirbal’s Fixed Asset Valuation service a trusted choice for businesses aiming to understand and safeguard their asset value.

“This free-of-cost fixed asset evaluation aims to empower businesses to make informed insurance decisions enhance operational efficiency and deliver exceptional value and customer experience. Driven by integrity, excellence and technological innovation, the mission is to empower individuals and organizations to thrive in unpredictable circumstances,” Naqvi explained.

The Fixed Asset Valuation service caters to businesses across industries, especially those seeking precision in insurance valuation and is tailored to meet the needs of organizations valuing long-term assets. Riskbirbal specialises in assessing Current Assets, Fixed Assets and Intangible Assets to provide a comprehensive understanding of resource portfolio.

About the company:

Riskbirbal Insurance Brokers is a Delhi-based insurance broking and risk management company founded in 2022 and received the IRDAI broking license in May 2023. It is led by the visionary risk expert, Syed Meraj Naqvi who has extensive Insurance experience. The company identifies itself as India’s 1st broker to offer quotes online for all policies and helms the industry by providing well-informed solutions to mitigate uncertain financial risks.

Staying true to its name, Riskbirbal aims to combine the timeless wisdom of Birbal to offer solutions that deftly mitigate risks for customers. Just as Birbal’s wit and intelligence were invaluable to Emperor Akbar, the company brings that same level of astuteness and wealth of expertise in resolving issues and finding effective solutions for clients. Embodying the essence of Birbal and amalgamating their expertise as insurance brokers, Riskbirbal ascertains a prominent position in the industry.


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