360Value® Underwriting Data
A Single Interface for Vital Underwriting Information
Many elements go into insurance underwriting decisions. As more third-party data is incorporated into underwriting decisions, managing that data becomes increasingly difficult. 360Value simplifies the process by bringing the most common risk-specific underwriting information into a single interface.
Furthermore, replacement cost estimates and all other data elements collected in 360Value can be feed directly into any underwriting system through a Web Service implementation.
Input the address once, and you can get a wealth of location-specific underwriting information:
- AIR Catastrophe Hazard Data provides a simple assessment of the catastrophe hazard facing individual properties. This is the same data used to assess location-specific hazard risk in AIR Worldwide’s hurricane, earthquake, and severe thunderstorm catastrophe models.
- Public Protection Classification (PPC™) Service delivers information about the capacity of the local fire department to respond if flames engulf a property in which your company has a financial stake.
- LOCATION® Crime Service delivers objective, accurate crime-risk data representing every address in the United States. It provides a wealth of information — including past, present, and projected crime-risk scores — to help forecast losses at specific locations.
- LOCATION Wind Services information such as the distance between each risk address and the nearest major body of water; windpool eligibility; the ISO rating territory for commercial, homeowners, or dwelling risks; and the ISO Group II zone for commercial property risks.
- California Brush Fire Service determines whether an at-risk address is in a designated California brushfire zone. The service provides the name of the hazardous brush area and identifier code. The information lets insurers quickly and easily determine brushfire exposure and eligibility for California FAIR Plan credits.
- FireLine™ is a hazard rating score for the actual risk location and a surrounding area rating score. The ratings can be used to determine wildfire exposures in surrounding areas and allocate loss-mitigation resources. FireLine can also be used to develop overall wildfire hazard ratings for an entire book of business.
- Premium Tax Service helps insurers quickly and accurately determine local premium taxes. It provides information including the appropriate tax code, the name of the tax territory, codes for properties subject to multiple taxes, the lines of business subject to premium tax, the tax rate by line of business, the type of tax, and the tax revision date.
- Building Code Effectiveness Grading Schedule classifications for communities based on information on each community’s building-code adoption and enforcement practices. This data can be used to predict how well a structure will fare in a hurricane, earthquake, or other disaster.
- California Department of Insurance Earthquake Zone Service the earthquake zone and subzone, as determined by the California Department of Insurance, for every address in the state.
These services provide the most accurate property and hazard information related to an insured risk. By combining the risk-specific information of these services with 360Value replacement cost estimates, insurers get a much richer picture upon which to base underwriting decisions.