Verisk and Duck Creek Announce the Addition of Verisk’s BuildFax Solutions to the Duck Creek Platform
BuildFax Solutions Enable Insurers to Quickly Access Robust Information on Property Condition and History through Duck Creek Content Exchange
JERSEY CITY, N.J. — September 30, 2020 — Verisk (Nasdaq:VRSK), a leading data analytics provider, and Duck Creek Technologies, a leading provider of core system solutions for the property/casualty insurance industry, announced today the addition of solutions from BuildFax, a Verisk business, to Duck Creek’s Content Exchange. These BuildFax solutions will enable insurers to easily access robust property condition and history data through the Duck Creek Platform.
The BuildFax solutions – Roof Age, Property Condition Score, and Major Systems Insights – are rooted in ground-truth permit data, providing critical information about a property’s condition – which includes the age of its roof and maintenance activity on plumbing, electrical, and mechanical systems.
These additional solutions are the latest Verisk products available on Duck Creek’s Content Exchange. Duck Creek customers can currently access a wide range of Verisk tools through the Content Exchange, including detailed information on the relative risk of vehicles, the replacement cost for specific homes, and robust telematics data from consenting drivers for usage-based insurance programs.
“Personal lines insurers today need quick and easy access to robust data about property conditions,” said Robert Fletcher, head of global solution partnerships at Duck Creek. “With these additions to the Duck Creek Content Exchange, carriers who use our software will now be able to easily access BuildFax solutions and make more informed and efficient decisions about the homes they insure.”
“Information about roofs and major systems is critically important in evaluating a structure’s risk,” said Jonathan Kanarek, managing director of BuildFax. “By integrating these BuildFax solutions into Duck Creek’s Platform, we’re making it simple for Duck Creek’s customers to access updated and detailed information about property conditions and help policyholders get the coverage they need.”
Verisk (Nasdaq:VRSK) is a leading data analytics provider serving customers in insurance, energy and specialized markets, and financial services. Using advanced technologies to collect and analyze billions of records, Verisk draws on unique data assets and deep domain expertise to provide first-to-market innovations that are integrated into customer workflows. Verisk offers predictive analytics and decision support solutions to customers in rating, underwriting, claims, catastrophe and weather risk, global risk analytics, natural resources intelligence, economic forecasting, and many other fields. Around the world, Verisk helps customers protect people, property, and financial assets.
Headquartered in Jersey City, N.J., Verisk operates in 30 countries and is a member of Standard & Poor's S&P 500® Index. In 2018, Forbes magazine named Verisk to its World's Best Employers list. For more information, please visit www.verisk.com.
BuildFax, headquartered in Austin, Texas, is trusted by the largest insurance and financial institutions in the world to deliver business-critical property condition and history data. With the only database of its kind encompassing more than 84 billion data points on commercial and residential structures, BuildFax delivers detailed data on remodeling, solar installations, new construction, roof age, major systems, maintenance history, and more. To learn more about BuildFax, visit www.buildfax.com.
About Duck Creek Technologies
Duck Creek Technologies is a leading provider of core system solutions to the P&C and General insurance industry. By accessing Duck Creek OnDemand, the company’s enterprise Software-as-a-Service solution, insurance carriers are able to navigate uncertainty and capture market opportunities faster than their competitors. Duck Creek’s functionally rich solutions are available on a stand-alone basis or as a full suite, and all are available via Duck Creek OnDemand. For more information, visit www.duckcreek.com.