360Value

Despite mitigation measures, natural hazards may still cause damage, and insurers need actionable data to guide underwriting and pricing.

From estimating to calculating: Predictive modeling and machine learning remove the guesswork from evaluations.

Total reconstruction costs, including materials and labor, increased 3.1% from April 2022 to 2023. Costs continue to slow down and steady.

The truest test of an ITV solution is how it performs with actual losses, which can yield critical data to validate and calibrate RCEs.

Total reconstruction costs, including materials and labor, increased 6.8% from January 2022 to January 2023, a drop from the last quarter.

Verisk data shows the cost to rebuild a property is still more than 11 percent higher, on average, than it was pre-pandemic.

Total reconstruction costs, including materials and retail labor, increased by 9.3% from October 2021 to October 2022.

Enhance ITV at bind and renewal with 360Value for Commercial Property, which includes monthly price updates based on localized claims.

Verisk's 360Value Quarterly Reconstruction Cost Analysis shows materials and labor prices rose 3 percent from July 2021 to July 2022.

Knowing when a property has been updated is critical, as these changes can add new liability risks and insurance-to-value considerations.

Property insurers can move to simplify quoting workflows in a digital-first strategy with fast, reliable reconstruction cost estimates.

With automation and analytics advancing at a rapid pace, many insurers are looking to transform the experience of buying commercial coverage.

With renovations increasing rapidly, the pressure to monitor property changes has increased to promote premium and ITV alignment.

Verisk's 360Value® Quarterly Reconstruction Cost Analysis shows materials and labor prices rose 13.5 percent from April 2021 to April 2022

SmartSource in 360Value gives personal property insurers the current and comprehensive data they need to underwrite with confidence.