BCIS ReAssess

BCIS ReAssess

ReAssess, a powerful new tool from BCIS, gives insurers best estimates of Values at Risk across residential building books.

Reinsurance helps reduce the volatility of underwriting results and can be used to achieve a significant reduction in capital requirements, a key driver for Solvency II regulations. The effectiveness of reinsurance is, to a certain extent, dependent upon insurers' being able to take a realistic view of their Values at Risk.

ReAssess provides reinsurance analysts with a consistent approach to determining Values at Risk across residential building books by providing  access to BCIS rebuilding cost models already accepted as standard by surveyors and loss adjustors.

Benefits

• Provides reinsurance analysts with a consistent approach to determining

 

• Values at Risk across residential building books

 

• Assists effective reinsurance procurement and a reduction in capital requirements - a key Solvency II driver

 

• No need to develop and maintain internal models

 

• Avoids reliance on sum insured provided by policyholders

 

• Insurers can run a test before they purchase the data to assess the benefit to their organisation

 

• BCIS, premium data brand of the RICS - an independent and authoritative data source to quote during Solvency II compliance checks.

Data

• Compiled over the last 30 years

 

• Developed and maintained by in house construction industry experts

 

• Always up to date and in line with building regulations

 

• Consists of 2.5 million rebuilding cost values

 

• In comma delimited format ready to import into insurer databases.

Technical

For an overview of the service, including details of the types of properties covered and what's included in the rebuilding cost calculation, please see the ReAssess - Technical Overview PDF

PDF's of the Technical Specification and details of the House Rebuilding Cost Index for use in updating ReAssess are also available.

To find out more about the service see the ReAssess PDF or contact; 

Matthew Newsome
BCIS Consultant
E: mnewsome@bcis.co.uk

For more information call +44 (0)20 7695 1500 or email contact@bcis.co.uk