Insurance Gap Analysis: Find Under-Insurance Before a Loss
SAIBA Corporate · 2 September 2026 · 6 min read
Most companies discover a coverage gap at the worst possible moment: when they file a claim. Insurance gap analysis is the practice of finding those gaps first — while there’s still time to fix them.
What is a coverage gap?
A coverage gap is any difference between the cover you should have and the cover you actually hold. It might be an asset that was never added to a policy, a sum insured that hasn’t kept up with value, cover that lapsed unnoticed, or the wrong basis of settlement. Every gap is a loss the company is silently self-insuring.
Why gaps appear
Programmes drift. Assets are bought and sold, business units move or rename, headcount and salaries change, values inflate — but the schedule doesn’t always keep up. In a multi-unit organisation, no single person sees every change, so cover and reality slowly diverge.
The four gaps to look for
- Uncovered assets or people — added to the business, never added to a policy.
- Under-insurance — sum insured below replacement/actual value, which can trigger average and scale down every claim.
- Lapsed or expired cover — a renewal missed, leaving a window with no protection.
- Wrong basis — reinstatement vs. market value, or the wrong cover type for the exposure.
How to run a gap analysis
A structured analysis compares your registers against a set of rules for what cover each class should carry:
- Define the cover each asset class and each employee grade, role or salary band should have.
- Check every asset and person against those rules.
- Surface anything under-insured, uncovered or on the wrong basis as a gap.
- Own each gap, close it, and re-check as the registers change.
Automate it — because it changes daily
Done by hand, a gap analysis is a snapshot that’s stale the next day. Done in a platform, it’s continuous: as assets and people change, the rules re-run and new gaps surface immediately. SAIBA Corporate builds this in — rules by asset class and employee grade, with a live gaps register.
What to do with the findings
Prioritise by exposure, take the biggest gaps to your broker at the next renewal or as a mid-term endorsement, and keep the register live so the number of open gaps trends toward zero. Gap analysis isn’t a one-off audit — it’s an ongoing discipline.
See your insurance program in one place
SAIBA Corporate turns scattered policies, assets and gaps into one live command centre — on your servers or ours.
Request a walkthrough →