With a formal aviation insurance opinion letter issued for each aircraft to sit as an internal audit compliance check, Aerospace Risk Management Services Advisory ensures that the insurance risk associated with aircraft leasing/financing is effectively transferred.
CertiFly your operations with our certificate verification system
Developed in-house as a result of the ever-changing nature of the aviation insurance market, CertiFly is a software solution providing a streamlined and structured renewal insurance and reinsurance certification compliance check.
Increased financial and reputational loss
- It is no longer the case that banks/lessors/financiers can rely on the fact that the initial insurance/reinsurance certificate received at the time of delivery, confirming that their asset is protected, will remain the same at renewal and through the lease term.
- With premiums being squeezed and operators looking to reduce costs, changes to the coverage (even including who the broker/insurer is) is more common than it once was. This has resulted in renewal insurance/reinsurance certification becoming harder and more difficult to check.
- What if the renewal insurance/reinsurance certification received no longer adequately protects your asset?
Our CertiFly solution
With CertiFly, we can ‘CertiFly’ that your asset is still adequately protected year-upon-year, providing a system generated compliance report for the individual asset for your internal audit file.
CertiFly features and benefits:
- A multi-point checking system, CertiFly cross-checks the coverage evidenced ensuring that it complies with current industry standards.
- As an in-house built system, CertiFly can be tailored to your needs to ensure that checks are completed in accordance with your own internal requirements.
- The more the system sees, the more it learns. Working off an internal held database built-up from checks performed against certificates you provide, CertiFly ensures that insurance/reinsurance certification received is not only correct, but consistent across the operator fleet. If the system finds an error, it automatically emails you confirming the asset concerned and the steps that need to be taken to rectify the issues.
- All fleet insurance/reinsurance certificates will be reviewed via our online platform Risk Intelligence Central, providing you with a central online resource to interact with us for all of your certification and compliance report needs.
How do you manage any conflicts of interest?
ARMS Advisory is purposely ring-fenced from the WTW broking practice. All information provided to ARMS Advisory is strictly confidential and not available to any other part of the WTW group. This enables full interaction with broking teams, resulting in a strong link to relevant market intelligence.
