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.
Calculating replacement costs with monthly data means prices are more likely to reflect current market realities. Frequent pricing updates can flatten the curve of potential spikes, resulting in fewer surprises for carriers quoting policies and property owners applying for insurance.
For property underwriters, it can seem like the whole world is a moving target. 360Value is one of the only valuation tools using reconstruction costs based on over 20 years of actual insurance claims data, current and localized for the properties you want.
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 levels.
Watch the on-demand webinars to learn about the latest advances in our reconstruction data:
As wildfires and other natural catastrophes grow in frequency and severity, so does the value of data ecosystems to help insurers gain a comprehensive view of property risk, from address-level exposure to granular, up-to-date reconstruction cost estimates.
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.
Get more reliable, component-based replacement cost estimates that account for virtually all material and labor required to rebuild with 360Value for commercial lines.
With automation and analytics advancing at a rapid pace, many insurers are looking to transform the experience of buying commercial coverage, from time-consuming and…Read the article
With renovations increasing rapidly, the pressure to monitor property changes has increased to promote premium and ITV alignment.Read the article
Verisk's 360Value® Quarterly Reconstruction Cost Analysis shows materials and labor prices rose 13.5 percent from April 2021 to April 2022Read the article
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