360Value® for Commercial Property
How accurate are your commercial property replacement cost estimates?
Your book of business may be over- or underinsured if you're underwriting based on estimates that aren't:
- prefilled with reliable, site-verified data
- representative of current local pricing information
- aligned with expected claims
High hit rate for property characteristics
Highly accurate replacement costs
Integrates easily with Verisk ecosystem
99.6 percent uptime
Unsurpassed customer service
Expanding commercial property data
The hit rate with 360Value prefill for commercial properties has increased to roughly 75 percent, from 66 percent in 2021, according to a recent Verisk analysis.
Reliable component-based estimates
Reliable component-based estimates
Replacement costs vary geographically and fluctuate widely over time. 360Value provides dependable, claims-driven, component-based estimates that account for virtually all material and labor required to rebuild. Verisk professionals continually research and validate construction cost data at the local level. These ongoing reviews and analyses ensure that 360Value offers consistently accurate and current replacement cost data.
Estimate business contents with real-world claims
Estimate business contents with real-world claims
Calculating the replacement cost of business personal property has often come down to guesswork—until now. Using data collected from business insurance policies and real-world claims, 360Value Commercial Contents employs proprietary computer models to generate a contents estimate based on verified information. Discover how a more accurate contents estimate can improve customer satisfaction and prevent underinsurance.
The Verisk ecosystem provides a full picture for commercial property
Xactimate
360Value helps ensure that your building limits are aligned with expected property losses because it uses the same reconstruction cost data as the nation’s number one estimating solution—Xactimate®, a Verisk product.
ProMetrix Commercial Property
360Value prefills property-specific information for commercial properties across the United States. When available, prefill speeds up underwriting and quoting by letting users verify property information with customers, rather than having to collect it from scratch.
OneXperience for Commercial Property
Virtual inspection tool providing access to 360Value’s replacement cost calculator.
Track the latest changes to reconstruction costs
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.
Five strategies for better replacement cost estimates
Five strategies for better replacement cost estimates
As a leader in replacement cost estimation for more than 20 years, fueled by a strong connection to claims-based data, Verisk recommends five strategies to help avoid outdated valuations that could leave insurers and their customers vulnerable in the event of a total loss.
Complementary solutions
Additional insights
As increases slow, reconstruction costs show signs of stabilizing
Total reconstruction costs, including materials and labor, increased 6.8% from January 2022 to January 2023, a drop from the last quarter.
Read the article
Clear away obstacles to fast, profitable small commercial underwriting
Prefill application details, amplified with analytics, can fuel small commercial underwriting automation by tapping unstructured data
Read the article
Keeping pulse: Tracking the latest price surges to maintain ITV
Verisk data shows the cost to rebuild a property is still more than 11 percent higher, on average, than it was pre-pandemic.
Read the articleLearn more about 360Value onboarding
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Looking for actionable takeaways on trends influencing commercial property insurance? Check out Inside the Data-Verisk Commercial Property for analysis and news developed especially for underwriters and loss control engineers.