JERSEY CITY, N.J., May 10, 2016 — Verisk Insurance Solutions, a leading source of information about property/casualty insurance risk, announced today that it’s launching a new web integration option for 360Value® that significantly enhances the customer experience by enabling home insurance buyers to calculate a replacement cost estimate as part of an online quoting process. The replacement cost estimate helps determine the coverage limit for an insurance policy. Verisk Insurance Solutions is a Verisk Analytics (Nasdaq:VRSK) business.
“Several of our clients have already integrated 360Value directly into their online homeowners quoting platforms,” said Scott Amussen, vice president of Verisk Insurance Solutions, responsible for 360Value. “Changing demographics, new technology, and increasing customer experience expectations are transforming how homeowners insurance is bought and sold. We’re helping our clients build industry-leading online homeowners quoting platforms focused on customer engagement.”
The new 360Value integration option gives homeowners the opportunity to calculate the replacement cost estimate. It supports quick and easy estimates by prefilling property-specific information when a homeowner enters an address. It also lets property owners thoroughly validate the details of the home’s property characteristics and add additional information to make sure the replacement cost estimation is reliable. 360Value is tied very closely to Xactware’s industry-standard claims data, giving homeowners even more confidence that they’re properly insured when a claim is necessary.
“Verisk is the only company to offer this online interface designed with the customer in mind,” said Amussen. “Our new integration option gives property owners more insight into the reconstruction quoting process. It increases transparency when estimating reconstruction costs and lets customers see the basis of the replacement cost estimate.”
The new integration option can support replacement cost estimation on any device, including computers, tablets, and smartphones. It can be used for web-based quoting or integrated into any web-based policy management system as the standard 360Value interface for agents, underwriters, and customer service representatives. The interface and terminology were designed to be simple for homeowners to use.
360Value is a leading web-based replacement cost estimator for homeowners insurance, designed to estimate coverage limits for residential, commercial, and agricultural properties.
About Verisk Insurance Solutions
A Verisk Analytics (Nasdaq:VRSK) business, Verisk Insurance Solutions is a leading source of information about property/casualty insurance risk. Drawing upon unique data assets and deep domain expertise to provide innovative solutions that are integrated into customer workflows, Verisk Insurance Solutions includes the industry-leading brands of ISO, AIR Worldwide, and Xactware. Around the world, Verisk Insurance Solutions helps customers protect people, property, and financial assets. For more information, visit www.verisk.com/insurance.