Cordell Sum Sure
Cordell Sum Sure helps insurers and homeowners tackle the sum insured challenge by integrating detailed information about individual properties with Cordell's market leading construction cost data and building analytics. This allows Cordell Sum Sure to generate real time reconstruction estimates making it easy to help determine a nominated sum insured value. This helps to minimise cases of under-insurance and ensure a seamless digital experience in policy acquisition.
4 ways Cordell Sum Sure can help your business
- Reduce guess work - Cordell Sum Sure pre-populates with our detailed property information allowing for a quick estimate. Consumers can focus on validating the data used and refining the estimate, rather than working out and manually entering property attributes minimising cases of under-insurance at the point of purchase and providing a high level of transparency.
- Superior customer service - provide your customers with a simple, easy to use fully integrated solution to help determine their sum insured value. Using the Application Programming Interfaces (APIs), the Insurer can craft a complete digital experience and ensure the calculators are a seamless part of the acquisition to policy conversion process.
- Understand portfolio exposure - access to in depth insight at the portfolio level to understand where to focus efforts to resolve underinsurance.
- Improve financial metrics–collect premiums commensurate with the risk being insured, to improve loss ratios and overall profitability. Assist with sales conversion by keeping the customer in the same interaction to determine an appropriate Sum Insured.Ongoing portfolio management – allows insurers to more accurately revise sum insured values and renew premiums based on the change in reconstruction cost at individual property level, rather than using a general adjustment for building inflation.
- Receive an instant estimate for properties where we have sufficient data by simply entering an address, a real time reconstruction estimate is returned.
- Amend and add additional property data to further refine the estimate such as adding swimming pools, external buildings and heating sources.
- Breakdown the reconstruction costs (that utilises Cordell construction cost data) plus demolition costs and GST to give you a more complete picture.
- Generate reports that are date and time stamped recorded for reference.
- Ability to integrate with your systems using Application Programming Interfaces (APIs).
Cordell Sum Sure in the Media
Stuff.co.nz - Ombudsman Karen Stevens' home under-insurance warning
Insurance Magazine - Banks beat insurers in adopting new sum insured calculator