BuildFax

Property insights you can trust

 

Verisk has taken another important step in the evolution of its insurance solutions by acquiring BuildFax in October 2019.

What does this mean for you?
By bringing together BuildFax’s unique data assets on property conditions with the deep domain expertise and robust property analytics of Verisk, the acquisition enables Verisk to provide property insurers a more holistic view of property risk and the evolution of that risk over time.

Data points on residential and commercial structures


Premium-impacted changes detected every day


Residential and commercial structures covered


BuildFax property insights help reinforce the insurance value chain.

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Segment and price risks more competitively

Granular property insights can bolster your existing pricing strategy. Leverage property insights to fine-tune rating algorithms that consider the evolving risk landscape.

Elevate your underwriting from onboarding to renewals

BuildFax property insights enable underwriters to drive faster and more accurate decisions at scale. Underwriters are better equipped to capture the right risk, optimize inspections, ensure eligibility, and validate premium-impacting changes.

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Expedite payouts and close the loop on claims

Maintain customer satisfaction even in the high-speed claims environment. Pay claims promptly with an eye on structure depreciation and verify property repairs, all the while detecting potential instances of fraud.

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Target the right customers locally and at scale

The rapidly changing landscape of U.S. property creates new opportunities to expand your book of business and allocate resources internally with insight into active housing markets. Market to targeted risks that fit your specific set of underwriting guidelines.

Improve your negotiating position and reduce reinsurance risk exposure

Enter increasingly robust catastrophe reinsurance discussions armed with insights from a trusted third-party data source and validated modifiers for increased transparency into the risk on your book. Capture significant property changes that influence probable maximum loss (PML) assessments.