Tool generates fact-based estimate in minutes
CoreLogic has launched a new commercial rebuild estimate calculator to help the financial services, commercial property, and insurance sectors provide better customer experience by generating a fact-based estimate in minutes.
The new tool, Cordell Commercial Calculator, is claimed to be New Zealand’s market-first commercial property rebuild calculator. It estimates and provides rebuild costs for the majority of commercial buildings in minutes and at no cost to the customer. The insurer or broker enters property attributes collected from the owner and calculates reducing friction in the insurance sales process, speeding up quoting, and providing a better customer experience.
“We’re genuinely proud of just how much this is going to help our clients, the industries we support and the people and businesses who just want a better way to own and protect their property and assets,” said Simone Moors, CoreLogic’s New Zealand country manager.
“We saw a need to help people with a better way to do things and have developed a solution that’s faster, easier, and more customer-friendly with ultimately reduced risk. The experience for insurers, commercial insurance brokers, and their clients will be far superior, saving time, money, and effort and ensuring that people have the right level of cover, and that’s important.”
Cordell Commercial Estimator also makes renewals much quicker as previous estimates are saved. At renewal time, the insurer or broker pulls up the old estimate, updates the information as required, and recalculates.
“This is a true solution for insurers and brokers to make sure their customers’ commercial properties are insured for the correct rebuild value. It’s been built specifically for the New Zealand market, with calculations based on local construction costs and building code requirements. It even includes time for planning permission, rebuild cost over time, and inflationary costs,” Moors said.
