Ensuring insurance to value (ITV)—from new business to renewal—is good for you and your policyholders: They’re better protected in the event of a total loss, and you collect premiums appropriate to the risk.
360Value® uses the building cost information in our claims loss estimation system, Xactimate®, providing highly reliable replacement cost estimates supported by recent claims loss experience.
Reconstruction costs have increased significantly during the pandemic, with the price of some materials, like lumber, rising persistently with growing demand. Watch this on demand webinar to learn how to improve your underwriting and provide customers with the right amount of coverage by using replacement-cost estimates based on actual claims data.
Data demands to support underwriting are growing and increasingly hard to manage. 360Value can give you easy access to trustworthy property and hazard information on insured risks.
Reconstruction costs can change over time, and at different rates by geography, down to a very localized level. Each quarter, Verisk’s reconstruction cost data reports provide reconstruction cost trends at the national and state/province levels for the U.S. and Canada.
Get more reliable, component-based replacement cost estimates that account for virtually all material and labor required to rebuild with 360Value for commercial lines.
The latest 360Value® Reconstruction Cost Analysis shows that lumber price volatility is slowing the overall pace of growth.Read the article
Property insurance underwriters relying on up-to-date cost data to cope with higher reconstruction estimates amid lumber's price volatility.Read the article
People spending more time at home seemed to ultimately help many insurers, as loss frequency declined in 2020 year over year across several categories.Read the article