HazardHub Introduces ReplacementHubTM Property Replacement Estimations
HazardHub, the nation’s fastest-growing supplier of geospatial risk data, is pleased to announce the introduction of ReplacementHub Home Replacement Cost estimates from our award-winning API.
HazardHub combines its high-resolution property data with the intelligence provided by e2Value to create ReplacementHub, an estimate of the amount needed to replace the existing property structure. ReplacementHub recognizes the difference in both commercial and residential properties, applying the most appropriate answer for a given location.
Bob Frady, CEO of HazardHub, says “the recent string of wildfires in California has introduced a new and expensive hazard for property insurers – underinsurance. People are surprised to find that – from a catastrophe or not – they often don’t have enough insurance to cover the cost of rebuilding a home or business. In the end, the insurance company can end up with a compliance and customer nightmare, which has resulted in expensive litigation and bad press.”
“We’ve combined our property data with e2Value’s intelligence to deliver a fast and accurate replacement cost estimate. Better yet, we can both append this to an existing book of business and deliver it quickly where it’s needed most – at the point of underwriting via our lightning-fast API. We’re very excited to add this capability to our ever-expanding risk toolkit.”
Todd Rissel, CEO of e2Value adds, “It’s great to be included with such a robust data set and great organization. HazardHub shares many of our core values, making it easy for us to connect with HazardHub and to their clients. We share a belief in open source and consumers of data knowing what the data is, where it came from, and how that information can help them in their business. The market has been asking for this information and HazardHub delivered.”
For a limited time, HazardHub is offering a no obligation test of ReplacementHub.
Frady adds “We’ve always been huge believers in data transparency. We never ask you to take our word for it – we’ll always put our data up against any source you may currently be using. We encourage our customers to test ReplacementHub for themselves to see how HazardHub can help you make better, more informed decisions.“