Policy Management News & Information
Opta expands innovations with the launch of iClarify Farm Solution
Markham, ON (Apr. 20, 2017) – Opta Information Intelligence (Opta), creator of iClarify™ and Peril Score™ analytic solutions, is proud to expand its suite of services and innovations to the Canadian property and casualty (P&C) insurance industry with the launch of iClarify Farm Solution. This latest innovation was designed in partnership with Reeds Construction to provide customers with the ability to quickly generate a functional replacement cost on multiple farm structures at point of sale.
iClarify Farm is the only solution available via web portal and can be directly integrated into internal systems, providing access to an unprecedented level of farm property data, all accessed within seconds. Brokers, underwriters and insurers will have access to geo-coded farm data, satellite imagery, predefined structure types with default material/additives, accurate replacement costs and a measuring tool that calculates the square footage and distance between structures. Customers will be able to generate a combined replacement cost for all farm structures including the residential property on a given parcel of land with the ability to populate all data and imagery into a sophisticated, professional report.
"We are committed to providing our customers with innovative solutions that streamline their workflow, increase the accuracy of their submissions, and offer significant time savings at point of sale and we're very excited to offer a farm valuation solution through iClarify," states Greg McCutcheon, President of Opta Information Intelligence.
The iClarify Farm Solution reflects geographically relevant farm structure intelligence and replacement costs based on 74 locations across Canada and is updated on a quarterly basis to deliver the most accurate and up to date farm valuation on the market. Opta total loss findings show a minimal variance between contractor estimate and iClarify Farm valuations with an average variance of 4%. All results are well within the industry benchmark of +/-15%.
Opta Information Intelligence is Canada's largest aggregator of property risk information and leading provider of property intelligence and innovative technology solutions for insurance and corporate industries. Opta helps you access, understand, and synthesize previously inaccessible information, turning it into intelligence that helps to discover and understand business risks. Visit www.optaintel.ca.
SOURCE: Opta Information Intelligence
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