BuildFax

Insurance

Insurers need detailed information about a property to make the best decisions possible. BuildFax data help property and casualty insurers and other insurance industry suppliers evaluate and react to the market with our comprehensive products. Detailed analytics are available for each product line and can be used to assist underwriting, policy maintenance, inspections, and claims processing.

Underwriting Risk Assessment

Are the properties on your book of business more risky?

Having access to parcel and property level information is critical during the initial underwriting process. BuildFax RiskProfile identifies construction activity that may suggest potentially risky property and structure characteristics.

Policy Maintenance

Has a property owner failed to report a significant property improvement?

BuildFax ValueProfile can be used to assist with current book of business maintenance by highlighting major insurance-to-value (ITV) discrepancies. In some instances home additions, remodels, pool installations, and other value-add improvements are not accurately reflected in a homeowner’s policy. BuildFax ValueProfile can assist the insurer by scanning for these undervalued properties hidden within a book of business.

Inspections

Do your inspectors have the best information to evaluate a property?

BuildFax StructureProfile provides a unique analysis of a property, from the inside out. StructureProfile is a printable report that an inspector or adjuster can use to identify and confirm the previous existence of structures and property characteristics.

Claims

Are you certain your claim payments are being used to make the correct repairs?

ClaimsProfile assists in claim processing. This permit profile identifies whether the correct repairs were made on a specific claim, and if they were, whether the construction work was completed with correct building permits and appropriate contractor licenses. Whether used to detect possible insurance fraud, to validate repair work, or to assist in the re-underwriting process, ClaimsProfile improves claims handling.