In our business, the benefits of a worldwide office network are evident in our performance. Our clients are captive insurers or risk management departments of major multi-national industrial concerns. Our global coverage, coupled with our ability to work in close partnership with our clients, has seen our service become more focused on fulfilling specific, clearly defined roles, within their risk management programs. In addition to individual assignments, we operate worldwide claims handling programs for international corporations. Our network of offices allows our clients to select the suitable control office from where we provide a fast, cost-effective response to losses occurring anywhere in the world.
To enhance the core business of loss adjusting and to support our clients, the entity in India aims to offer comprehensive value added services in the form of claims assistance to our clients in all domains of insurance, such as engineering, fire, marine cargo and specialized risks. Proclaim also engages with end customers on risk management assignments, providing our support for risk surveys, risk audits and risk mitigation assignments. The specialist teams within the entity are also equipped to provide ancillary services in the insurance domain such as valuations, EML/PML assessments and associated activities.
Loss adjusting is our core business and we drive the way loss adjusting is done in the country. We have set standards that are unachievable elsewhere and are forever raising the bar to get better than our previous best. Our clients expect fast and accountable services, wherever risks and losses occur, and we are proud to be able to deliver these using our network of offices. We attend losses all over the country and report back to our clients promptly, with the relevant information.
Effective co-ordination is crucial to manage a catastrophe operation. Getting the affected area running is our priority. The set-up and running of a temporary location or multiple locations, requires a lot of expertise and skill, which our team has developed from practical experience. To facilitate the response, we provide a single point of contact in our Catastrophe Director, who is responsible for managing and coordinating catastrophe operations.
Following an earthquake, hurricane or man-made catastrophe, logistic and diplomatic skills are of paramount importance. Documented CAT procedures and detailed catastrophe plans, prepared in close conjunction with our clients, ensure that correct numbers of qualified staff can be deployed to any area of the world. Our communication and IT system gives us real-time status and details of the extent of damage at ground zero, through our CAT bulletins and up-to-date data collection.
As pioneers in the field of insurance services in the country, Proclaim has always strived towards providing its clients innovative means and processes for settling and managing claims. Using its IT infrastructure and technological capability, the business has developed a process that manages claims without visits to site. The desktop claims process is for claims up to a certain quantum, as stipulated by the client, and allows the adjuster to assess small losses online, without visiting the loss location. Documentation is received and scrutinized through a sophisticated process delivery system, thereby subjecting the Insured to minimum problems. Minimum documentary evidence is called for, to substantiate the loss, for insurers to settle claims faster and more efficiently, without compromising on quality.
All businesses are required to be aware of the risks they are exposed to. Awareness of exposure allows for a better understanding of the risks involved and the manner in which these risks can be mitigated, both, in pre and post incident scenarios. The Risk Management Vertical of the entity has been developed over the years after the team has been seasoned in managing claims. The team is, thus, able to understand businesses and respond to the needs of our clients with the best mitigation methodologies. We have, in the past, allowed our clients to understand the manner in which their assets and facilities remain exposed, thereby allowing them to implement measures that safeguard their risks and showcase their ability to act as a prudently. Our teams have been involved in an array of industry segments, including Power, Infrastructure, Hospitality, Manufacturing, allowing us to provide our clients with the best exposure analysis from across all domains and in line with global industry practice.
It is essential to ensure that assets are insured for their correct values. The Indian market and the global insurance sector provides coverage on re-instatement basis which allows compensation to be extended on new-for-old basis. Thus, it is essential that the exposure of a business is understood and insurance is opted for, in a manner that allows for replacement to be afforded. The valuation team specializes in such exercises and has been extending its expertise to international clientele within India and overseas. The team has Chartered Accountants, Forensic Accountants, Cost & Works Accountants, Engineers across all disciplines to ensure the business of our clients is understood and replacement values of current equipment are considered for insurance.
The current regime and environment of Insurance in India is changing drastically. With business becoming aware, risks becoming higher and exposures spreading across the globe, it is an inherent requirement that the corporate houses in India cover their assets in a manner that is best suited to their business and risk exposure. The global insurance market allows for such flexibility by allowing customers to choose their coverage, conditions and warranties. This is now a reality in India as well, with mega policies being drafted for large corporate houses, and local policies being tailored to provide additional coverage. Owing to our business spread, we are able to offer a distinct value-add to our clients across all spheres in terms of policy coverage. Our team of trained experts and legal aids are equipped to review your existing covers and provide technical solutions that can be afforded by the Indian and/or Global market.