Access to higher-quality data for a particular property and its characteristics can set one UK property insurer apart from another, allowing them to shorten question sets during the quotation process and make underwriting decisions with increased speed and precision.
Insurers now expect a more complete view of the risk associated with a property and want accurate valuations delivered quickly and efficiently during their initial review.
ResInsight provides rebuild valuations and property characteristics of residential buildings for underwriting and rating purposes. The solution uses high-resolution aerial images and street-level mapping of a building and its surrounding properties, along with proprietary and third-party data sources, to help assess risk.
Comprehensive rebuild values
Indicative replacement costs are calculated using a sophisticated quantity surveyor pricing model and a supporting database of building components.
The solution provides construction details – including building age, roof type, wall type, floor area and number of storeys – for 29 million addresses across the UK. It also includes listed building grades, indicators of flat conversion, unique address identifiers (e.g., UPRN and UDPRN), geocodes and indicators of the quality of fixtures and fittings.
Efficiency savings at point of quote
Insurers can give a quotation for a property with fewer questions asked, as ResInsight can help validate property details and improve the customer journey.
ResInsight is available as a real-time API (application program interface) and through our online map-based underwriting portal, Location Matters. It can also be seamlessly integrated with any Geographic Information System (GIS).