CoreLogic, a global property information, analytics and data-enabled services provider, has released RCT Express 4.2, an expanded property risk assessment platform offering the insurance industry a fully-integrated and complete view of property risk that includes comprehensive building and contents valuation estimates. RCT Express 4.2 is contents estimating technology that integrates into an existing valuation platform so insurance providers can include contents estimates in their risk assessment.
The expanded platform also includes Hail Insight, which integrates weather forensics to determine pre-existing hail damage at the property level. Hail Insight enables risk assessment for one of the most challenging problems the industry faces: increasing frequency and severity of hail-related roof damage.
As a new addition to the RCT Express 4.2 platform, “contents estimating,” when combined with building valuation data, enables carriers to complete a contents estimate for homeowner, condo and tenant policies in a single valuation workflow in order to develop appropriate coverage limits.
Additional capabilities of the new RCT Express 4.2 platform include:
- InterChange, providing property-specific pre-fill data with a confidence score that provides carriers with an accuracy rating for the data provided in a pre-fill record.
- Roof age, which provides accurate roof-age data during the underwriting process.
- Change detection permit alerts, which identify property change events, from renovations and additions to major system changes.
- Aerial imagery, which provides a visual reference that can be used to identify unique features and risks for an individual property.
Source: Insurance Journal