BCIS Notional Rebuilding Cost Matrix
Offer more competitive buildings insurance premiums using the BCIS Notional Rebuilding Cost Matrix.
The BCIS Notional Rebuilding Cost Matrix is provided in a comma delimited format ready to import into insurer databases.
"The BCIS data allows us to price bedroom rated policies with a greater degree of accuracy. This gives us an advantage over many of our competitors by enabling us to accurately assess risk and competitively price policies, protecting and growing our market share by providing a better deal for policyholders."
To find out more about the service see the Risk Solutions section
Alternativeley please contact:
BCIS Consultant
T: +44 (0)20 7695 1510
M: +44 (0)7808 921111
E: mnewsome@bcis.co.uk
The BCIS Notional Rebuilding Cost Matrix provides the notional rebuilding cost of a residential property using BCIS rebuilding cost models already accepted as standard by surveyors and loss adjusters.
As the sole authority on residential rebuilding costs with over 30 years' experience, BCIS is best placed to provide accurate, consistent and up-to-date notional rebuilding costs.
With independent data for setting notional sums insured now available from the UK's leading building cost experts, insurers can concentrate on their rating structures.
The Benefits
- Increased business - the Matrix plays a significant part in quoting a more accurate and competitive premium for the risk.
- Improved aggregate assesment - Using the best possible source of data in the market, insurers can be sure that they are purchasing the right level of reinsurance.
- Time saving - Internal resources are no longer needed to develop and maintain notional sums insured.
The BCIS Notional Rebuilding Cost Matrix is provided in a comma delimited format ready to import into insurer databases.
A notional rebuilding cost can be obtained for properties with either:
- Brick walls with a tile or slate roof or
- Stone walls with a tile or slate roof
The rebuilding cost provided will depend on the factors listed below:
- Outcode - First half of postcode, e.g. LS18.
- Type - House, purpose built flat or flat converted from a house.
- Number of Storeys - For flats this is the height of the block rather than the floor the flat is situated on. A single storey house will be classified as a bungalow. Unknown is an option.
- Style - Detached, semi-detached or terraced. Applies to houses and conversion flats only.
- Year Built - 1720-1839, 1840-1919, 1920-1945,1946-1979 & 1980 to date.
- Number of Bedrooms - Including rooms used for other purposes but originally intended to be a bedroom.
User Review:
Adam Clarke, underwriting director at Fortis said:"The BCIS data allows us to price bedroom rated policies with a greater degree of accuracy. This gives us an advantage over many of our competitors by enabling us to accurately assess risk and competitively price policies, protecting and growing our market share by providing a better deal for policyholders."
To find out more about the service see the Risk Solutions section
Alternativeley please contact:
Matthew Newsome
BCIS Consultant
T: +44 (0)20 7695 1510
M: +44 (0)7808 921111
E: mnewsome@bcis.co.uk
Also see:
BCIS House Rebuilding Cost Calculator
BCIS Residential Rebuilding Cost Look-up Service
PDF Download - BCIS Notional Rebuilding Cost Matrix
For more information call +44 (0)20 7695 1500 or email contact@bcis.co.uk
