Verisk Insurance Solutions – Underwriting announces two enhancements to the commercial module of 360Value, its replacement cost estimation tool for property insurers. The module now includes an additional 2 million records of property-specific building characteristics and has added the ability to estimate replacement costs for heavy commercial and industrial structures.
"Innovation is the driving force behind the growth of 360Value," says Scott Amussen, vice president of property solutions at Verisk Underwriting. "With our colleagues at Verisk, we introduced commercial property prefill last year. We knew there was more to offer and dedicated the necessary resources to ensure our clients have access to as much data as possible."
The additional 2 million commercial prefill records were compiled from local tax jurisdictions across the country. 360Value already included site-verified building characteristics for approximately 3.4 million commercial structures from ProMetrix.
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