Risk Assessment & Coverage Analysis
Insurance risk assessment — mapping personal or business risks, finding gaps and overlaps, and a cost-effective coverage plan.
- Estimate Cost
- ₹5,000 – ₹50,000
- Typical duration
- 7 days
Service overview
Risk assessment and coverage analysis reviews your personal or business risks against your existing insurance to find gaps, overlaps and under-insurance. It produces an inflation-adjusted protection plan for current and future needs.
Who needs it? / When is it needed?
- Families wanting a complete review of their protection.
- Business owners with growing assets and liabilities.
- When income, family size, loans or business operations change significantly.
What to expect from the WCP Professionals
- Assessment of assets, liabilities, income and dependants.
- Review of all existing policies for adequacy and overlaps.
- Projection of future requirements with inflation.
- A prioritised action plan with specific coverage recommendations.
Key deliverables
- Risk and coverage gap report.
- Recommended sum insured for each risk.
- Action plan with an estimated premium budget.
Standard turnaround time
- Data collection and analysis: 5–10 working days.
- Report presentation and discussion: within 2–3 days of analysis.
Government fees, timelines & key outcomes
- No government fee.
- Key outcome: a clear view of your protection status and a cost-effective plan to close gaps
Forms & filings involved
- No statutory filings are required.
- Proposal forms are completed only if you decide to buy new cover.
Documents required
- Existing insurance policies.
- Asset list with values, and loan details.
- Income details and family information.
- Business financials, for business clients.
What we need from you
- Complete and accurate financial information.
- Participation in a discussion of your goals.
- Timely decisions on recommendations.
Important conditions
- The analysis is based on information shared as of the review date.
- Actual premiums depend on insurer underwriting.
Additional information
- WCP professionals recommend a review every 2–3 years or after major life events.
- Related services: Policy Comparison & Selection Support, Life Insurance Advisory, Commercial & Business Insurance.
The estimated cost covers indicative professional fees only. Government fees, stamp duty and taxes are payable at actuals.
How it works
- 1. Raise a service enquiry describing your requirement.
- 2. A Relationship Manager reviews it and opens it for bidding.
- 3. Pay into escrow and assign the professional you select.
- 4. Track progress to completion, then accept and release payment.
Frequently asked questions
What is a coverage gap analysis?
A review comparing your actual risks with existing policies to find what is uninsured, under-insured or duplicated.
Who needs a risk assessment?
Families with growing responsibilities and businesses with significant assets, liabilities or contractual insurance requirements.
Can this reduce premiums?
Often — removing overlaps and choosing appropriate deductibles can lower cost without losing protection.
How often should insurance be reviewed?
Annually, and after major changes such as a new home, child, business expansion or new contracts.