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Property-specific data helps underwriters better assess peril risks

By Visualize Editor October 1, 2014

Now you can get property-specific by-peril rating data from the ISO Risk Analyzer® Homeowners predictive model in our 360Value® replacement cost estimator. ISO Risk Analyzer in 360Value makes it easy for any company that estimates replacement costs as part of its underwriting process to implement by-peril rating by building characteristic with no change to your workflow.

For every insurance quote, you’re already capturing property-specific information that you enter into the 360Value system to calculate the replacement cost estimate. ISO Risk Analyzer then uses that estimate along with the information you’ve entered and many other variables with predictive value to project highly refined loss relativities by peril. You can use the output to develop premiums more appropriate for a particular

home. For example, as the comparison below illustrates, you can differentiate rates for two houses on the same block with the same replacement value based on how the risk changes by building characteristic in relation to nine major homeowners peril categories.

360Value has fields for 17 of the 20 building characteristics that ISO Risk Analyzer examines. Twelve of those are also available in 360Value Property Prefill, so in many cases, you can get a replacement cost estimate and highly refined rating information by simply entering an address.

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Rating factors for neighboring houses differ by peril and building characteristic


Infographoic: Rating factors differ by peril and building characteristic.