CoreLogic Releases Risk Assessment Platform Offering a Fully Integrated Complete View of Property

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March 18, 2015, Irvine, Calif –

—Enhanced RCT Express 4.2 also features weather forensics solution—

CoreLogic ® (NYSE: CLGX), a leading global property information, analytics and data-enabled services provider, today announced the release of 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 one of the only contents estimating technologies integrated into an existing valuation platform, making it easy for insurance providers to 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.As a new addition to the RCT Express 4.2 platform, “Contents Estimating,” when combined with building valuation data, enables carriers to quickly and accurately complete a contents estimate for homeowner, condo and tenant policies in a single valuation workflow in order to develop appropriate coverage limits. Instead of the traditional method of estimating by applying a straight percentage of building reconstruction costs, carriers can now align coverage options by analyzing individual homeowner and renter risk profiles. This more comprehensive approach to underwriting is especially valuable for renter policies that previously could not be estimated at this level of detail.

As a new addition to the RCT Express 4.2 platform, “Contents Estimating,” when combined with building valuation data, enables carriers to quickly and accurately complete a contents estimate for homeowner, condo and tenant policies in a single valuation workflow in order to develop appropriate coverage limits. Instead of the traditional method of estimating by applying a straight percentage of building reconstruction costs, carriers can now align coverage options by analyzing individual homeowner and renter risk profiles. This more comprehensive approach to underwriting is especially valuable for renter policies that previously could not be estimated at this level of detail.

Hail Insight enables risk assessment for one of the most challenging problems the industry faces: increasing frequency and severity of hail-related roof damage. Using precise historical hail data and a proprietary hail verification model to help determine a property’s pre-existing roof condition, carriers can proactively identify condition-related roof issues, enabling them to take appropriate action. Hail Insight features a hail risk score based on a 10-point scale for each property, including key metrics on the intensity and severity of previous hail damage.

“The innovative features and functionality of this expanded platform gives carriers the ability to quantify exposure risk for roof condition and contents estimating – bringing clarity to two critical variables previously unknown in the quoting and underwriting workflow,” said Steve Brewer, senior vice president of product management for CoreLogic Insurance Solutions. “By leveraging these risk assessment datasets, carriers can make better pricing and risk selection decisions which lead to measurable bottom-line results.”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.

For additional information, please visit corelogic.com.

About CoreLogic

CoreLogic (NYSE: CLGX) is a leading global property information, analytics and data-enabled services provider. The company’s combined data from public, contributory and proprietary sources includes over 3.5 billion records spanning more than 40 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, and the public sector. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. Headquartered in Irvine, Calif., CoreLogic operates North America, Western Europe and Asia Pacific. For more information, please visit www.corelogic.com.

CORELOGIC, the CoreLogic logo, Hail Insight and InterChange are registered trademarks owned by CoreLogic, Inc. and/or its subsidiaries.