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 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.
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.
As a leader in replacement cost estimation for more than 20 years, Verisk recommends five strategies to help avoid outdated valuations that could leave insurers and their customers vulnerable in the event of a total loss.
Watch the on-demand webinars to learn about the latest advances in our reconstruction data:
As natural hazards grow in frequency and severity, so does the value of data ecosystems to deliver 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.
Total reconstruction costs increased 5.1% from October 2022 to 2023. This uptick follows the 4.3% increase from July 2022 to July 2023.Read the article
To help insurers navigate the increasing complexity in the market, Verisk has developed the Market Expectations Index for 360Value.Read the article
Insurers must explore changes affecting their risk portfolio and leverage component- and property-level insights to help them maintain ITV.Read the article
Get more reliable, component-based replacement cost estimates that account for virtually all material and labor required to rebuild with 360Value for commercial lines.
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