CoreLogic Introduces New Desktop Platform for Insurance Providers to Pinpoint Natural Hazard Risk and Tax Data
Email Dan Smith
Crosby-Volmer International Communications
November 01, 2011, Santa Ana, Calif. –
— New platform provides unmatched accuracy, granularity for hazard risk and tax assessment —
CoreLogic® (NYSE: CLGX), a leading provider of information, analytics and business services, announced today the introduction of a new risk assessment tool designed to help property and casualty insurers make more informed, accurate and timely underwriting decisions with the convenience of a desktop solution. The Xiance™ Desktop for insurers will provide property-level data and analytics in an easy to use interface, allowing users to access the most precise hazard risk and premium tax data available in order to improve risk assessment and underwriting decisions. The product is the first from CoreLogic that will fall under the Xiance, pronounced “Eg-ziance,” suite of products.
Using the Xiance Desktop, insurers are able to pinpoint a property’s vulnerability to natural disasters such as earthquakes, wildfires and hurricane-driven storm surge flooding, prior to determining availability and extent of insurance coverage. Users will benefit from enhanced risk selection, underwriting efficiency and improved loss ratios.
Drawing from industry-leading CoreLogic hazard and tax databases, the platform includes two main components, including a “Batch Wizard,” which is batch data functionality to match and append data for large sets of property files, and a “Map View” option, which allows for visualizing individual properties to determine hazard risk and premium tax data.
With real-time access to parcel-level data, the Xiance Desktop will improve underwriting decisions by providing accurate natural hazard risk data that can be obtained by peril and on a per-transaction basis. Comprehensive tax data will also ensure compliance with states requiring premium tax payments and help insurers avoid incorrectly estimated taxes that can be costly.
According to Scott Little, vice president and general manager for the Spatial Solutions group at CoreLogic, the product will be particularly useful for mid-level insurance providers, including carriers, agents, wholesalers and managing agents/underwriters looking to access the most accurate and up-to-date risk data within affordable parameters.
“The Xiance Desktop design allows for a dynamic end-user experience based on insurers’ individual needs at a specific point in time. We’ve built a customizable, easy to use program that will help them improve their assessment of parcel-level natural hazard risks, more accurately assess property exposure and, ultimately, be better prepared to make sound policy decisions. All of this is available within a price point that is very user-friendly and without a need for costly IT implementation,” said Little.
For access to an exclusive Xiance Desktop demo for the news media, please contact Lauren Salay at email@example.com or 202-232-6627. The Xiance Desktop is a Microsoft Windows-only platform.
CoreLogic (NYSE: CLGX) is a leading provider of consumer, financial and property information, analytics and services to business and government. The company combines public, contributory and proprietary data to develop predictive decision analytics and provide business services that bring dynamic insight and transparency to the markets it serves. CoreLogic has built the largest and most comprehensive U.S. real estate, mortgage application, fraud, and loan performance databases and is a recognized leading provider of mortgage and automotive credit reporting, property tax, valuation, flood determination, and geospatial analytics and services. More than one million users rely on CoreLogic to assess risk, support underwriting, investment and marketing decisions, prevent fraud, and improve business performance in their daily operations. The company, headquartered in Santa Ana, Calif., has more than 6,500 employees globally with 2010 revenues of $1.6 billion. For more information visit www.corelogic.com.
CORELOGIC and the stylized CoreLogic logo, are registered trademarks owned by CoreLogic, Inc. and/or its subsidiaries. XIANCE is a common law trademark owned by CoreLogic, Inc. and/or its subsidiaries. No trademark of CoreLogic shall be used without the express written consent of CoreLogic.