Save Time And Money In The P&C Insurance Underwriting Process With Pre-Populated Forms

BUSINESS BENEFIT SERIES: Property & Casualty Insurance Data Services

Industry: Property & Casualty Insurance

Problem: Property and casualty insurance carriers generally rely on agents to provide property data in order to facilitate the policy writing process. Unfortunately, the data is often incomplete, out-of-date, or simply not accurate.

Solution: Pre-populate electronic applications and other forms with First American CoreLogic's current public record property data for timely quotes and appropriate risk assessment.

Save Time And Money In The P&C Insurance Underwriting Process With Pre-Populated Forms

Typical Business Process:

Property and casualty carriers typically rely on agents to provide input on specific property characteristics, such as year built, square footage, construction type and more, for purposes of quote generation, property underwriting and claims management. Unfortunately, agents often must rely upon information from second and third parties, which may not be complete, accurate or up-to-date. If the original data is found to be incorrect later in the underwriting process, the premium must be recalculated and a new, possibly higher quote generated, which can result in embarrassment and lost business for the carrier and their agent.

Alternative Business Process:

Obtain the most current property and mortgage data instantly through Connect2Data®, our customizable XML service. Connect2Data enables you to pre-populate electronic forms with highly accurate public record property data during the quote fulfillment process to facilitate prompt responses to quote requests and reduce the likelihood that a premium will need to be readjusted in the future. Our nationwide database of more than 140 million properties is compiled from county tax assessor and county recorder’s offices in more than 3,000 counties nationwide and includes detailed property information, such as square footage, year built, construction type, number of bedrooms/bathrooms and dozens more data elements and attributes.

Expected Results:

By using our Connect2Data XML service, you can receive instant updates to the data you need to create accurate and timely quotes. In addition, leveraging our nationwide database improves your ability to accurately quote the premium the first time, thus reducing the chances that a premium will need to be readjusted in the future.