The addition of these new tools will continue to enhance the Austbrokers partners and set them apart from the majority of the industry, enhancing each broker’s profile, while providing clients with accurate estimates for the replacement costs of commercial and residential properties and ultimately attracting new clients.
Brokers will be able to have access to property data and analytic systems, which will give them deeply-researched construction data at the touch of a button. The data will give clients a better understanding of the appropriate sum insured for their building and, in the case of an insurable event, provide them with an accurate cost for rebuilding, making the process easier and faster.
Nigel Thomas, Divisional Chief Executive, Austbrokers Network, said, “Partnering with CoreLogic aligns to our Group’s strategy of being a trusted advisor. This new technology partnership will support our broker partners to enhance the value they bring to their clients, and continue to endorse them as trusted advisors.”
Mark O’Reilly, Austbrokers Countrywide, said, “Using CoreLogic systems means that we can add more value to our clients based on real data to give them a more accurate cost to rebuild, and thus a more robust insurance cover that better meets their needs. It also helps us stay ahead of trends in the market so we can give clients proactive advice to help them get the most out of their policy.”
Sonya Fisher, General Manager Sales – Insurance & Federal Government, CoreLogic, said, “CoreLogic is honoured to partner with Austbrokers and its broker partners to provide tools that add value to client engagement, address underinsurance for both commercial and residential properties, and help brokers stay abreast of what’s happening in the real estate market. Austbrokers was immediately able to see the value that the CoreLogic tools would deliver for both their brokers and their brokers’ clients, which made the decision to proceed an easy one.
Determining the level of insurance required for a commercial property can be difficult as the rebuild estimate should be for the cost to rebuild to current code standards and should also allow for cost inflation. CoreLogic’s deeply-researched Cordell construction cost data contains the most up-to-date prices for building materials, labour, and project timeframes, providing the ability to generate a real-time commercial building replacement cost estimate to reduce the risk of underinsurance.”
About CoreLogic
CoreLogic Australia is a wholly owned subsidiary of CoreLogic (NYSE: CLGX), which is the largest property data and analytics company in the world. CoreLogic provides property information, analytics and services across Australia, New Zealand and Asia, and recently expanded its service offering through the purchase of project activity and building cost information provider Cordell. With Australia’s most comprehensive property databases, the company’s combined data offering is derived from public, contributory and proprietary sources and includes over 500 million decision points spanning over three decades of collection, providing detailed coverage of property and other encumbrances such as tenancy, location, hazard risk and related performance information.
With over 20,000 customers and 150,000 end users, CoreLogic is the leading provider of property data, analytics and related services to consumers, investors, real estate, mortgage, finance, banking, building services, insurance, developers, wealth management and government. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and geo spatial services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. CoreLogic employs over 650 people across Australia and in New Zealand. For more information call 1300 734 318 or visit www.corelogic.com.au.
