360Value® is the only replacement cost estimator to fully support an insurers catastrophe risk management program. Using the service, your underwriting department can provide tremendous value to your organizations catastrophe risk management program at the policy and portfolio levels with minimal disruptions to current workflow.
Many of the data elements needed for replacement cost estimates are the same data elements needed for catastrophe modeling. That makes 360Value ideally suited to capture the detailed, property-specific data needed for effective catastrophe analysis.
Using the built-in connection to AIR Worldwide catastrophe risk management applications, 360Value provides fully probabilistic loss estimation capabilities for individual policies. Output includes a full probability distribution of losses, including average annual expected loss (AAL) and losses from 100-year and 250-year return periods. Those elements will improve your risk selection, rating, and pricing decisions.
360Value also connects to AIR Worldwide catastrophe hazard reports. Available for hurricanes, severe thunderstorms, earthquakes, winter storms, and more, the catastrophe hazard reports provide important information including hazard proximity data and risk scores to help you assess catastrophe risk during the underwriting process.
Underwriters can also support the enterprise by collecting and maintaining property-specific building attributes and replacement cost estimates. This data is critical for effective catastrophe modeling at the portfolio level and can be exported from 360Value for use in AIR catastrophe modeling solutions.