UKBuildings for Underwriting
Comprehensive, property-specific data for the competitive underwriter
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.
Highly granular, property-specific data delivered rapidly
Highly granular, property-specific data delivered rapidly
UKBuildings provides rebuild valuations and property characteristics of residential and commercial 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.
Wide level of coverage
Wide level of coverage
The solution provides construction details – including building age, roof type, wall type, floor area number of storeys, and the presence of basements – 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), and geocodes.
Efficiency savings at point of quote
Insurers can give a quotation for a property with fewer questions asked, as UKBuildings can help validate property details and improve the customer journey.
Easy to integrate
Easy to integrate
UKBuildings is available as a real-time API (application program interface), flat file, or through our online map-based underwriting portal, Location Matters. It can also be seamlessly integrated with any Geographic Information System (GIS).
For more Verisk underwriting solutions, check out:
Location Matters
Develop a more comprehensive view of property risk with interactive mapping technology.
Perils Insight
The Perils Insight product suite is a set of data models that predict the relative risk and variation of claims for household and commercial property insurance.
Premium Insight
Premium Insight is a price analysis tool that provides insurers with the latest comparative insurance product rates for household, private car, motorcycle, and commercial vehicle.
Resonate
Gain a deeper understanding of customers through geodemographic classifications.