January 4, 2018
2017 turned out to be one of the costliest years for natural disasters in recent history. As a result, carriers are anticipating hefty increases in reinsurance premiums on the horizon. And while rate hikes are never a welcome sight, there is a silver lining. In the last six years, home remodeling has increased by...
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December 13, 2017
For nearly a decade, BuildFax has been the leading source of property history and condition insights for some of the largest insurance companies in the country. Leveraging the nation’s largest database of building permits, construction data, and other publicly sourced information, BuildFax delivers detailed intelligence on roof, condition, maintenance history, and remodeling for more than...
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August 15, 2017
In the race to beat the market, there’s a ton of competition for new, better alternative data. And data providers are clamoring to sell the latest and greatest in big data and analytics. So, what’s the best way to break through all the noise and procure those gold nuggets that can actually help capture...
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July 20, 2017
Hurricane season is right around the corner, and five to nine Atlantic hurricanes are in the forecast. There’s a great article from Facility Executive that we ran across recently, which outlines a few ways to reduce personal property losses and storm-related injuries. Business Interruption Exposure The first thing they bring up is reducing exposures...
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June 27, 2017
Residential remodeling has been steadily on the rise for the last several years. So what else is new? Actually, quite a lot. For businesses that deal with property, it’s more important than ever to keep an ear to the ground for the changing landscape of remodeling activity. Why now? Because 2016 saw some interesting...
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June 23, 2017
The team got back from the Florida Association of Insurance Agent conference last week where they had a fantastic time. They met a lot of great folks and enjoyed spreading the word about BuildFax property insights and the impacts they can have on reducing risk, pricing more competitively, and increasing profitability. “We had dozens of conversations...
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June 13, 2017
Did you miss our abandoned construction webinar? Don’t worry, you can still watch it! Whether you’re underwriting a book of business, managing a portfolio of properties, or looking for new housing data to help forecast economic change, your success relies on knowing what’s happening with construction activity. It also relies on knowing what’s not...
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February 28, 2017
Commercial properties are proven to be more prone to loss when there’s been a lapse in maintenance and upkeep. Our customers find that an effective way to mitigate this risk is to look at and validate commercial property data with insights derived from building permit records. If you’re underwriting commercial policies that include property, BuildFax can...
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January 31, 2017
Although abandoned construction projects are relatively uncommon, they are something that should be on your radar – especially as they impact your business. Abandoned construction projects can indicate a few things: The condition of the property doesn’t match its completed post-construction value/exposure Part of the project may not have been built to safety code which can put a...
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November 10, 2016
We recently compared commercial new construction and commercial remodeling over the course of the Great Recession. Based on the findings of our residential study, we suspected there might also be a similar trend in commercial construction. The results from this new study illuminate some interesting findings, especially as they relate to commercial lines. Additions, remodels, and alterations...
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