Insurance
CoreLogic’s mission is to help insurers make property insurance easy. We start by helping insurers pin point the exact risk location from which we can start overlaying many of the different factors about the property, the location and the occupants to ensure that you get the whole story when underwriting risk.
Through our strategic partnership with Symbility Solutions, we can now provide streamlined and transparent claims management solutions that drive efficiency and reduce claims costs whilst improving customer experience and satisfaction levels.
Cordell information allows us to merge Australia’s leading reconstruction cost estimation platforms with our data attributes expertise to improve customer engagement around the provision of both an insurance replacement cost and the cost of a policy.
CoreLogic data and insights can also help you understand when your customers are most likely to make insurance based decisions, helping you to further improve overall customer experience.
5 ways CoreLogic can help insurance companies
Our data – including reconstruction costs, property attributes, occupier intelligence and mapping – is overlaid with powerful demographic analytics to create extraordinary insights to help you:
- Revolutionise the claims process, reduce claims costs and improve the customer experience via data driven cloud-based workflow solutions.
- Pre-populate property features to tailor quotes to new and existing customers.
- Know when properties were purchased and when policies are due for renewal, or when a new sale indicates a potential new client can be found at an address.
- Understand locations, identify hazards and local infrastructure as well as geographical and environmental features.
- Provide accurate estimates of what it will cost for the total reconstruction of a property or portfolio.
Frequently Asked Questions
CoreLogic can provide residential and commercial reconstruction cost calculation tools specifically designed for insurance companies when assessing sum insured levels at underwriting, or at renewal. These solutions are powerful and easy to use and can be seamlessly integrated with insurers own systems to provide accurate replacement cost estimates for a property or portfolio. Using these tools at renewal as well as at underwriting will allow insurers to ensure that sum insured values keep pace with changing reconstruction costs and property characteristics.
As the exclusive reseller of Symbility solutions in Australia and New Zealand, CoreLogic can assist insurance companies with the introduction of straight-through processing and improved workflows.
Designed to be flexible and easy-to-use, Symbility's technology platform empowers insurers to collaborate throughout the entire claim lifecycle from first notice of loss to cash settlement or complete managed repair. By connecting all participants in one easy to use, cloud based platform, backed with world leading claims data collection and estimating tools, Symbility shortens claims cycle time, improves efficiency and allows insurers to manage claims costs.
Symbility helps insurers deliver improved customer claims experience with faster resolution times, better communication and collaboration whilst reducing costs.
CoreLogic data and insights can help streamline the customer experience when they are looking to purchase insurance. We do this by replacing lists of questions with pre-populated data, cutting down the quotation process time and providing a more pleasant and frictionless customer purchase experience. This approach is part of our philosophy to make property as easy as motor.
When people buy or sell properties, they will typically buy new or cancel existing insurance policies on those properties. Being notified that properties in their portfolio are being listed for sale allows insurers to reach out to clients at their time of change with a call to action to take their insurer to their new property. Development Applications indicate a requirement for Contract Works insurance and a review of the customer’s insurance cover.
The purchase date of a property is also likely to be close to the anniversary of any insurance policies they may have. Understanding this information allows you to target them through marketing at a time that is contextually relevant to them. Contact Sales
