When pricing intelligence falls short, everything breaks down, leading to compliance risks and settlement delays. When stakeholders can't agree on fair market value, everyone loses time, money, and the trust that powers efficient claim resolution.
Verisk is the industry leader in research, as our pricing data represents the standard of reliability and consistency. Our team reports cost information based on actual prices and transactions (completed bids) that have occurred recently in your area.
We rely on over 50,000 providers of materials, equipment, and labor. Additionally, we collect more than 345,000 survey points each year.
We analyze more than 5 million estimates annually, collecting data from more than 13 million data points and examining over 7,300 survey points each month.
Verisk maintains the largest contents database in the industry, featuring millions of vendor-specific items, 300,000 discontinued items, and 8,000 general quote items.
While others rely on simple market polling, factoring, or calendar-driven adjustments, our approach delivers methodologically superior pricing intelligence through rigorous scientific research that provides transparent and defensible data.
As the industry's most comprehensive pricing research provider, we report market conditions with rigor and transparency. Our responsibility? Delivering accurate market intelligence that reflects fair value, empowering all stakeholders with insights on genuine market conditions and your specific business requirements.
Here's how we do it, and why it strengthens every settlement across the industry.
Claims decisions need solid ground. That’s why we’ve built the industry’s most comprehensive foundation of pricing research:
50,000+ active data sources across materials, equipment, and labor providers
5 million+ estimates analyzed annually representing billions in completed claims
345,000+ survey data points collected each year from market participants
460+ localized markets across the United States and Canada
Our proprietary cluster analysis, developed by economists, identifies genuine market consensus while filtering out statistical anomalies. This means your pricing reflects true market conditions, not outlier data that skews results and undermines credibility across the claims process.
During disasters when market conditions shift rapidly, we publish updates because claims can't wait for the next monthly cycle.
Each market area reflects actual local transactions and supplier data—not broad regional averages or factored results that miss true local market conditions.
We analyze market price points from numerous third-party sources and thousands of daily in-field estimates along with current surveys—actual transaction data from real jobs completed across the industry every day.
Data integrity checks and organization of collected research ensure accuracy before analysis begins.
Cluster analysis on research subsets identifies mid-range market price points. This proprietary process was designed by university-level economists to ensure every published price reflects genuine market conditions rather than statistical anomalies that could undermine settlements.
While Verisk updates pricelists monthly, this doesn't mean every individual price is freshly surveyed each month. Our methodology focuses on quality over frequency, because what matters isn't how often we update, but how accurate and defensible our updates are when we make them.
Hourly billable labor rates are updated monthly based on various data sources, and most items include a labor component, so these items receive monthly updates. While not every individual line item is updated monthly in every market, material and equipment components are updated when our market analysis indicates changes are warranted.
Our published cost information represents reported market prices based on recent submissions. While there's no guarantee any published price will be appropriate for every specific situation, having cost information based on recently submitted prices gives everyone an extremely valuable tool for creating appropriate repair estimates, providing a foundation from which all parties can decide whether the price should be accepted or adjusted for specific circumstances.Verisk provides quality-driven updates when market analysis shows actual change, and not all individual line items are updated monthly in every market.
Market intelligence works best when it flows from all corners of the industry. Whether you’re seeing pricing patterns from carrier data, field experience, or job sites, your insights help us refine our research and ensure our pricing reflects the reality everyone experiences.
We compile our discoveries into a comprehensive monthly report detailing changes in major categories, shifts in lumber markets, fluctuations in gasoline prices, and additional insights specific to the month’s developments. These aren't just data dumps—they're strategic intelligence you can use to anticipate market shifts and position your organization ahead of change.
Verisk maintains the largest contents database in the industry, featuring millions of vendor-specific items, 300,000 discontinued items, and 8,000 general quote items.
Explore our Xactware family of products designed to simplify and automate your claims workflow.
The most powerful and comprehensive solution for property claims estimating.
Accelerate personal property claims estimation for contents claims adjusters and contents replacement service providers with XactContents.
Efficiently manage property preservation with quicker, smoother, and more accurate local repair estimates.
Create precise estimations with local pricing data and streamline construction job management.