JERSEY CITY, N.J., July 24, 2013 — Verisk Insurance Solutions – Underwriting, a unit of Verisk Analytics (Nasdaq:VRSK), today announced two significant enhancements to the commercial module of 360Value®, its replacement cost estimation tool for property insurers. 360Value now includes an additional 2 million records of property-specific building characteristics and has added the ability to estimate replacement costs for heavy commercial and industrial structures. 360Value is a leading replacement cost estimator for residential, commercial, and agricultural properties.
“Innovation is the driving force behind the growth of 360Value,” said Scott Amussen, vice president of property solutions at Verisk Underwriting. “With our colleagues at Verisk, we introduced commercial property prefill last year. 360Value is still the only replacement cost estimator to provide this capability. However, we knew there was more to offer and dedicated the necessary resources to ensure our clients have access to as much data as possible.”
The additional 2 million commercial prefill records were compiled from local tax jurisdictions across the country. 360Value already included site-verified building characteristics for approximately 3.4 million commercial structures from ProMetrix®.
In addition to expanding commercial prefill, 360Value now provides insurers the ability to estimate replacement costs for heavy commercial and industrial buildings. Examples of these structures include hospitals, museums, airport terminals, large manufacturing plants, and other specialized and highly complex buildings. 360Value can now be used to estimate replacement costs for virtually any commercial structure.
These new features are available in the 360Value commercial module today. Please visit the 360Value web page for more information.
About Verisk Insurance Solutions – Underwriting
A unit of Verisk Analytics (Nasdaq:VRSK), Verisk Insurance Solutions – Underwriting is a leading source of underwriting information about property/casualty insurance risk. Drawing upon vast experience in data management, predictive modeling, and risk assessment solutions, Verisk Insurance Solutions includes the industry–leading brands of ISO, AIR Worldwide, and Xactware. In the United States and around the world, Verisk Analytics helps customers protect people, property, and financial assets. For more information, visit www.verisk.com/insurance.