RiskMeter Online is proud to announce an expanded offering from BuildFax, the creator of the first and only database of historical building permit data. RiskMeter users will soon be able to access BuildFax's roof age information via RiskMeter.com and our batch processing Web site.
Roof age is a significant underwriting factor for many carriers, yet it's time consuming and expensive to verify. BuildFax has found that upwards of 45% of the roof ages currently on file for carries are typically miscalculated by 1 or more years. In addition, some carriers have also reported that they've been losing 15 cents, 20 cents and more on every premium dollar to roof related claims!
In response, RiskMeter and BuildFax are teaming up to help carriers get smarter about the roof risk in their book of business and the new roofs they are underwriting. The combination of BuildFax's roof related construction dates & details and RiskMeter's natural hazard risk reports will allow carriers to (1) more efficiently review their existing book of business by identifying properties with older roofs, and (2) help to determine underwriting eligibility with factors like roof age and wind mitigation credits.
This partnership will be especially helpful for users who leverage our hail risk scores. It's now possible to identify areas where hail risk is highest and obtain crucial roof details for those areas. For more information, or to add BuildFax's roof age reports to your account, please contact Daniel Munson, Founder, RiskMeter Online at 617.737.4444 or Email