TransUnion Delivers Up-to-Date Property Replacement Cost Estimations with New e2Value Partnership
e2Value’s Pronto® Solution Enables Carrier and Consumer Protection Against Underinsurance Risks
Property insurance valuations are a moving target. Internal and external factors remain fluid after initial underwriting, leaving carriers and consumers exposed to risks associated with underinsurance. To better support the insurance industry, TransUnion (NYSE: TRU) and e2Value are partnering to deliver the most up-to-date information, enabling both a seamless quoting experience along with an enhanced ability to identify possible changes in risk to a property post-bind.
This solution allows carriers to better assess risks for new business as well as their existing book, and protect consumers from finding out too late that they are underinsured.
TransUnion’s personal property insurance product suite can now be delivered alongside e2Value’s Pronto® solution, giving clients instant access to the most current information about a property’s replacement cost, including fluctuating labor and materials pricing that can occur in the wake of natural disasters and other disruptive trends.
“The pandemic will likely keep reconstruction costs volatile over the next 12 to 18 months, posing a challenge for attaining accurate replacement cost assessments,” said Mark McElroy, executive vice president of TransUnion Insurance Solutions. “TransUnion’s partnership with e2Value allows us to deliver instant, accurate and up-to-date insights on various local market demands that impact replacement costs. This solution allows carriers to better assess risks for new business as well as their existing book, and protect consumers from finding out too late that they are underinsured.”
TransUnion’s existing property insurance solutions allow for prefilled property insurance applications; provide intelligence on occupant risk; and flag risk factors, including changes to occupancy, business on premise and insurable interest. The partnership bundles those solutions with e2Value’s replacement cost capabilities, enabling a comprehensive set of supports for lead aggregators, digital agencies and traditional carriers in delivering instant assessments of new properties and ongoing portfolio management.
“We are extremely proud to have e2Value’s Pronto® solution delivered with TransUnion’s property insurance suite,” says Todd Rissel, CEO of e2Value. “Our product bridges the gap between estimated and actual replacement costs, providing insurers a real-world understanding of their risk exposure and allowing them to have meaningful interactions with their customers to ensure they have the coverage they need.”
More information about these solutions can be found here.
e2Value, Inc. is a full-service application development and technology provider that offers products to assist with asset valuation. Our tools can be used for collateral asset valuation, risk management, and predictive modeling. We offer full-featured, knowledge-based Internet applications that enable consistency and standardization of pricing, processes and procedures for all financial firms.
Founded in 2000 and based in Stamford, Connecticut, e2Value is the leading SaaS provider delivering valuations for residential, commercial, and farm and ranch properties in the United States and Canada. https://e2value.com/
About TransUnion (NYSE: TRU)
TransUnion is a global information and insights company that makes trust possible in the modern economy. We do this by providing a comprehensive picture of each person so they can be reliably and safely represented in the marketplace. As a result, businesses and consumers can transact with confidence and achieve great things. We call this Information for Good.®
A leading presence in more than 30 countries across five continents, TransUnion provides solutions that help create economic opportunity, great experiences, and personal empowerment for hundreds of millions of people.