Policyholder Data Validation
360Value is one of a set of powerful tools and processes that can be used for complete underwriting, claims, and policyholder collaboration.
Policyholder Data Validation provides property insurance carriers with more accurate valuations, appropriate underwriting revenue, and accurate claims.
Underwriting
360Value allows users to compile an accurate valuation for a home by creating an actual replacement-cost estimate. With ISO's PushPin technology it often takes just a few minutes for the user to verify information or answer questions while 360Value builds an estimate behind the scenes.
The estimate is built using the same pricing data used to estimate more than half of all claims in North America each year. Pricing data is updated at least once per quarter. With the click of a button, a new revaluation can be created using the most recent pricing when policies are renewed.
Accurate valuations mean that underwriters are receiving the appropriate payments for the structures they insure. This can increase underwriting revenue while at the same time preventing problems down the road that occur when policyholders realize they are underinsured.
360Value valuates residential, commercial, and agricultural structures.
Assignments and valuations are sent and received over the XactAnalysis network. This network provides the industry's most detailed reports in real time. All users can immediately see the status of any valuation they have the rights to see and run a variety of reports that help spot trends, manage resources, and spot and correct errors.
Claims
The Xactimate estimating system is used by 15 of the top 20 insurance carriers in North America. More than 80% of all restoration contractors who use a computer to estimate use Xactimate, and more than 70% of independent adjusters are Xactimate users.
Xactimate comes with the industry's most trusted pricing database for 468 regions in the United States and Canada. Each region is researched individually and is compiled after checking millions of data points each quarter.
Assignments and estimates are sent over the XactAnalysis network. The powerful reporting tools from XactAnalysis audit estimates for potential errors and benchmark your company's performance against other industry leaders. Most importantly all information on the XactAnalysis network is available in real time-you see what is happening not what happened. This allows managers to catch and correct errors before they become more serious problems.
Policyholder
The XactInfo collaboration tool makes the policyholder an important part of the valuation process. Policyholders can provide additional information that may affect the valuation. For example, on policy renewal the insured can provide information about a remodeling addition that increased the replacement-cost of the home. This information can be included in the revaluation.
When policyholders are involved, they share responsibility for an accurate valuation and help make sure the valuation matches the coverage they need. This increases underwriting revenue in most cases and decreases the likelihood of complaints and litigation when the policyholder does have a claim.
Policyholder data validation will increase accuracy in both valuations and estimates, increase revenue to insurance underwriters from accurate coverage and renewals, and increase customer satisfaction.
360Value is one of a set of powerful tools and processes that can be used for complete underwriting, claims, and policyholder collaboration.
Policyholder Data Validation provides property insurance carriers with more accurate valuations, appropriate underwriting revenue, and accurate claims.
Underwriting
360Value allows users to compile an accurate valuation for a home by creating an actual replacement-cost estimate. With ISO's PushPin technology it often takes just a few minutes for the user to verify information or answer questions while 360Value builds an estimate behind the scenes.
The estimate is built using the same pricing data used to estimate more than half of all claims in North America each year. Pricing data is updated at least once per quarter. With the click of a button, a new revaluation can be created using the most recent pricing when policies are renewed.
Accurate valuations mean that underwriters are receiving the appropriate payments for the structures they insure. This can increase underwriting revenue while at the same time preventing problems down the road that occur when policyholders realize they are underinsured.
360Value valuates residential, commercial, and agricultural structures.
Assignments and valuations are sent and received over the XactAnalysis network. This network provides the industry's most detailed reports in real time. All users can immediately see the status of any valuation they have the rights to see and run a variety of reports that help spot trends, manage resources, and spot and correct errors.
Claims
The Xactimate estimating system is used by 15 of the top 20 insurance carriers in North America. More than 80% of all restoration contractors who use a computer to estimate use Xactimate, and more than 70% of independent adjusters are Xactimate users.
Xactimate comes with the industry's most trusted pricing database for 468 regions in the United States and Canada. Each region is researched individually and is compiled after checking millions of data points each quarter.
Assignments and estimates are sent over the XactAnalysis network. The powerful reporting tools from XactAnalysis audit estimates for potential errors and benchmark your company's performance against other industry leaders. Most importantly all information on the XactAnalysis network is available in real time-you see what is happening not what happened. This allows managers to catch and correct errors before they become more serious problems.
Policyholder
The XactInfo collaboration tool makes the policyholder an important part of the valuation process. Policyholders can provide additional information that may affect the valuation. For example, on policy renewal the insured can provide information about a remodeling addition that increased the replacement-cost of the home. This information can be included in the revaluation.
When policyholders are involved, they share responsibility for an accurate valuation and help make sure the valuation matches the coverage they need. This increases underwriting revenue in most cases and decreases the likelihood of complaints and litigation when the policyholder does have a claim.
Policyholder data validation will increase accuracy in both valuations and estimates, increase revenue to insurance underwriters from accurate coverage and renewals, and increase customer satisfaction.