COTERIE INSURANCE PARTNERS WITH CONFIANZA DATA & ANALYTICS TO DELIVER COMMERCIAL PROPERTY REPLACEMENT COST ESTIMATOR
Partnership will drive Accurate Valuation, leveraging Transparent Model Parameters
August 2023 – Confianza Inc has announced a new partnership with Coterie Insurance. The partnership will help support Coterie Insurance to instantly and accurately calculate commercial property valuations nationwide.
Through this relationship, Coterie Insurance will leverage Confianza’s Property Replacement Cost calculator for quote prefill of their digital BOP applications.
Confianza’s Chief Data Officer, John Petricelli, points out “times have changed and traditional factors and historical methods are no longer sufficient to calculate a good representation of the replacement cost. In contrast, Confianza’s highly transparant and flexible model includes several Inflation variables such as supply chain pressures stressing the availability and cost of common materials. The resulting prices have materially affected the efficacy of historical methods”.
Current market valutions are further complicated when looking to calculate the cost of commercial properties. Different business and property-use types represent widely varying costs of repair, some mandated by local and state governments. The Confianza replacement cost calculation takes all of these (and more) into consideration.
Paul Bessire, Coterie’s Chief Data Offer is quoted, “Confianza’s Scores help Coterie Insurance to avoid property under valuations & premium leakage, thru the use of their transparent model and quarterly rating factor evaluation and refresh frequency.”
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For more information about Confianza, visit www.confianzaus.com. For more information about Coterie Insurance, visit www.coterieinsurance.com.
About Confianza
Confianza is an innovative data solutions company providing instantaneous, comprehensive information via a powerful API and integration platform, empowering Carriers, MGAs and Brokers with comprehensive data & prescriptive analytics. Based in Florida, with offices in the Atlanta and Washington DC Metros, Confianza serves the needs of insurance & Financial Service professionals throughout the country with a fully integrated database of America of more than 260M individuals, 150M households and 50M businesses encompassing more than 2,300 attributes. Data attributes also cover approximately 200M properties with additional insights about non-human perils, risk and crime. For more information about Confianza visit www.confianzaus.com
About Coterie Insurance
Coterie Insurance is revolutionizing small business insurance by enabling instant coverage. By sourcing publicly available data, Coterie’s technology employs digital underwriting to enable a transparent and accurate quoting and binding process. Coterie arms agents, brokers, and partners with cutting-edge tools to get small businesses the coverage they need. With the most expansive appetite on the market, Coterie is dedicated to seeing the small businesses of today succeed.
For more information about Coterie Insurance and the digital transformation of small business insurance, go to https://coterieinsurance.com.
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