AUSTIN, TEXAS--(BUSINESS WIRE)--
BuildFax, a leading provider of property condition and history insights for the largest lenders, insurers and real estate companies, released its findings today on reinsurance negotiation opportunities for carriers enhanced by deeper insights into remodeling trends that augment catastrophe model update cycles.
Following the costliest year for natural disasters in recorded U.S. history, BuildFax conducted an in-depth analysis on the history and condition of more than 5 million residential properties in Florida from 2008 to 2017.
“It’s been more than a decade since Florida has experienced a costly disaster like the one it faced last year,” said Holly Tachovsky, CEO of BuildFax. “Hurricane Irma tested Florida’s improved, safer building codes, leading to less-than-anticipated losses. While cat models recalibrate with information from the 2017 storm season, carriers can utilize trusted third party data to engage in more informed and strategic reinsurance negotiations as they head into renewals.”
Results of the report uncovered a variety of property insights carriers can leverage to improve their reinsurance negotiation positions:
Founded in 2008 and headquartered in Austin, Texas, BuildFax is the leading provider of property condition and history insights. Encompassing more than 23 billion data points on commercial and residential structures, BuildFax’s dynamic database of building permits, construction data and other publicly-sourced information delivers detailed insights into remodeling, solar installations, new construction, roof age, maintenance history and more. To learn more about BuildFax, visit www.buildfax.com.
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