ISO PushPin™
The Engine Behind 360Value's Pre-Fill Capability
What is ISO PushPin?
ISO PushPin™ is a database containing specific and detailed information on key building features for more than 75 million residential properties in the United States. The database represents more than 75 percent of homes with four or fewer units. Integrated into 360Value, ISO PushPin automatically pre-fills property information fields when data is available for a specific address. The prefill capability instantly provides valuable property information that 360Value uses to estimate the replacement cost of the home. ISO PushPin is included in a standard 360Value license.
How can ISO PushPin improve your company's underwriting processes?
You can use data from ISO PushPin to develop a replacement cost estimate for initial quoting purposes. Then as you go through your underwriting process, you can add additional property information to develop a more precise estimate. Using pre-fill data also improves the speed and efficiency of property information collection by streamlining some of the standard inquiries typically made by the agent or customer service representative.
How can ISO PushPin improve your company's insurance-to-value?
Collecting accurate and extensive property information for replacement cost estimates can be challenging. Homeowners often provide inexact property details and don't always report home improvements to agents or insurers. Unreliable property data leads to Coverage A limits that don't reflect the true replacement value of the home. ISO PushPin provides an objective data source you can use to validate information the homeowner or agent provides. By using ISO PushPin data, you'll have confidence in your replacement cost estimates.
What about my existing portfolio?
Some companies have leveraged the ISO PushPin database to conduct insurance-to-value analyses on their in-force book of business. Using the data provided by ISO PushPin, 360Value can develop replacement cost estimates for all risk in your portfolio. If a property is identified as underinsured, you can work with agents or directly with policyholders to update property information and adjust Coverage A. These analyses have allowed companies to improve their insurance-to-value ratio.
What is the source of the ISO PushPin data and how is it validated?
ISO compiles data for the ISO PushPin database from aggregated public assessor data. Coverage is dependent on the availability of data from individual jurisdictions or towns. To minimize potential shortcomings in tax assessor data, ISO PushPin presents you with only the data in which there is a high degree of confidence. This data is subject to quality control procedures - including statistical sampling checks and multi-field comparisons of anomalous data.
Before the data becomes available in 360Value, ISO PushPin quality assurance procedures clean and convert the data into a form appropriate for estimating replacement costs. For example, total living area is distinguished from building area. If brick exterior is indicated, the type of brick construction - brick veneer, brick on block, or solid brick - is inferred based on the age or construction type of the building.
How often is the ISO PushPin database updated?
According to a recent Harvard University study, more than 45 percent of homeowners reported spending at least 10 percent of their property's value on home improvements, indicating just how frequently homes are changing. To keep pace with the evolving property landscape, ISO updates the ISO PushPin database twice a year. With each release, the database grows and more than half of the previous records are updated.
Can users override ISO PushPin data?
Absolutely. ISO PushPin is intended to provide an objective starting point for capturing property information, but it is important for underwriters and agents to confirm with homeowners that all data is current. 360Value will reflect all user entries in the replacement value it generates and will save the data in a database for future use. However, since we strongly respect clients' rights to maintain control of their property data, overrides will not be reflected in the centralized ISO PushPin database.
The Engine Behind 360Value's Pre-Fill Capability
What is ISO PushPin?
ISO PushPin™ is a database containing specific and detailed information on key building features for more than 75 million residential properties in the United States. The database represents more than 75 percent of homes with four or fewer units. Integrated into 360Value, ISO PushPin automatically pre-fills property information fields when data is available for a specific address. The prefill capability instantly provides valuable property information that 360Value uses to estimate the replacement cost of the home. ISO PushPin is included in a standard 360Value license.
How can ISO PushPin improve your company's underwriting processes?
You can use data from ISO PushPin to develop a replacement cost estimate for initial quoting purposes. Then as you go through your underwriting process, you can add additional property information to develop a more precise estimate. Using pre-fill data also improves the speed and efficiency of property information collection by streamlining some of the standard inquiries typically made by the agent or customer service representative.
How can ISO PushPin improve your company's insurance-to-value?
Collecting accurate and extensive property information for replacement cost estimates can be challenging. Homeowners often provide inexact property details and don't always report home improvements to agents or insurers. Unreliable property data leads to Coverage A limits that don't reflect the true replacement value of the home. ISO PushPin provides an objective data source you can use to validate information the homeowner or agent provides. By using ISO PushPin data, you'll have confidence in your replacement cost estimates.
What about my existing portfolio?
Some companies have leveraged the ISO PushPin database to conduct insurance-to-value analyses on their in-force book of business. Using the data provided by ISO PushPin, 360Value can develop replacement cost estimates for all risk in your portfolio. If a property is identified as underinsured, you can work with agents or directly with policyholders to update property information and adjust Coverage A. These analyses have allowed companies to improve their insurance-to-value ratio.
What is the source of the ISO PushPin data and how is it validated?
ISO compiles data for the ISO PushPin database from aggregated public assessor data. Coverage is dependent on the availability of data from individual jurisdictions or towns. To minimize potential shortcomings in tax assessor data, ISO PushPin presents you with only the data in which there is a high degree of confidence. This data is subject to quality control procedures - including statistical sampling checks and multi-field comparisons of anomalous data.
Before the data becomes available in 360Value, ISO PushPin quality assurance procedures clean and convert the data into a form appropriate for estimating replacement costs. For example, total living area is distinguished from building area. If brick exterior is indicated, the type of brick construction - brick veneer, brick on block, or solid brick - is inferred based on the age or construction type of the building.
How often is the ISO PushPin database updated?
According to a recent Harvard University study, more than 45 percent of homeowners reported spending at least 10 percent of their property's value on home improvements, indicating just how frequently homes are changing. To keep pace with the evolving property landscape, ISO updates the ISO PushPin database twice a year. With each release, the database grows and more than half of the previous records are updated.
Can users override ISO PushPin data?
Absolutely. ISO PushPin is intended to provide an objective starting point for capturing property information, but it is important for underwriters and agents to confirm with homeowners that all data is current. 360Value will reflect all user entries in the replacement value it generates and will save the data in a database for future use. However, since we strongly respect clients' rights to maintain control of their property data, overrides will not be reflected in the centralized ISO PushPin database.