Lexington-Fayette Urban County Government (LFUCG) manages a large public asset portfolio across central Kentucky.
Location
Lexington, Kentucky
Products and Services
Lexington-Fayette Urban County Government (LFUCG) manages a broad portfolio of public assets across central Kentucky. As a self-insured entity that purchases excess insurance, the organization operates in an environment where the quality of its property data directly influences both coverage and cost.
Like many public entities, LFUCG had long maintained a comprehensive record of its assets in a spreadsheet format. When Paula Barnes joined as Risk Analyst, she identified an opportunity to strengthen how that data was validated, centralized, and used.
Over the following two years, LFUCG transitioned from a spreadsheet-based approach to a verified, centralized system using Centurisk’s asset management software, RiskStar. In doing so, the organization built on its existing appraisal process to create a more continuous, reliable approach to managing property data.
LFUCG’s asset data was stored in a comprehensive spreadsheet totaling approximately $1.3 billion in property values. The file reflected years of updates and valuable institutional knowledge, evolving over time.
As Paula stepped into her role, she realized the existing spreadsheet approach was a great foundation, but it relied on periodic appraisals and incremental updates. These provided continuity but didn’t fully address validation across the entire portfolio between appraisal cycles. “Verification of the data became increasingly difficult as the city’s asset portfolio was dynamic with routine property transactions across multiple departments”, Paula said.
For LFUCG, it meant elevating the portfolio’s data consistency and accuracy to rise to high-stakes moments like insurance renewal with greater confidence.
As part of its established process, the organization conducts comprehensive property appraisals every five years. This ensures values remain aligned with current market conditions. The transition to RiskStar allowed LFUCG to build on that foundation. It united appraisal data, asset details, and supporting documentation through a centralized, real-time system that could be maintained continuously, rather than revisited only at set intervals.
Working alongside Centurisk’s appraisal team, LFUCG undertook a detailed review of its portfolio. This appraisal process updated property values and helped reconcile differences across systems and departments.
As a result, the organization gained new visibility into its assets.
“We discovered assets that had been around for two to three years that were never on our list, and properties that had been demolished but were still on the spreadsheet,” Paula said.
By combining appraisals with RiskStar’s centralized system of record, LFUCG aligned its portfolio and established a more accurate baseline.
“Today I can say absolutely everything in RiskStar is complete, updated, and accurate.”
That improved accuracy was reflected in the city’s total insured value, which increased from $1.3 billion to $1.6 billion.
The impact of this work became most visible during insurance renewal.
Historically, LFUCG would submit its property data in spreadsheet format and respond to insurers’ follow-up questions. In many cases, this led to requests for on-site inspections, which required time-consuming coordination across facilities, maintenance teams, and multiple departments.
“It could take a two to three-week period for them to do that,” Paula explained.
But with RiskStar, the organization approached the process differently. Instead of a static Excel spreadsheet list, LFUCG presented a structured dataset with building characteristics, system details, photographs, and supporting documentation.
For the underwriters, this created a more complete and transparent view of the portfolio.
“They were so impressed with all the information they didn’t feel the necessity to do on-site inspections typically needed to quote our insurance. The data gives them a good picture, like an X-ray of the building, without needing to see it in-person.”
RiskStar effectively served as a digital representation of each property. This shift reduced the operational burden of coordinating inspections while also strengthening credibility with carriers. The data itself became a key part of how LFUCG was evaluated in the market.
LFUCG’s experience with RiskStar software was shaped as much by the working relationship with Centurisk as by the platform itself. From the beginning, the focus was on making the system usable in practice. Training was hands-on, and the Centurisk team worked closely with LFUCG to help integrate the system into day-to-day workflows.
For Paula, the combination of support and expertise made a clear difference:
“The transition experience to RiskStar was very good, with lots of training and hands-on support. Everyone has been very helpful and very responsive. They understand the data and what all those fields mean, and you can tell that comes from their appraisal background. I’ve learned a wealth of information just from working with the Centurisk team.”
This combination of recurring appraisals and RiskStar created a more consistent and reliable approach to managing assets, supporting both everyday operations and long-term planning.
For LFUCG, the value of RiskStar extends beyond a single renewal cycle.
The organization has reduced reliance on manual processes and expanded information access across its portfolio. Tasks that once required coordination across teams can now be managed within a centralized, real-time system, making routine work more efficient.
At the same time, the organization is better positioned to manage financial risk. More accurate values reduce the likelihood of underinsurance, while greater transparency supports more productive engagement with insurers.
“If we can even keep our insurance premiums flat instead of seeing another increase, that’s still a savings. This is taxpayer money, so we must be good stewards of it. And since RiskStar helps us market our property portfolio better, we can justify the investment.”
For LFUCG, the investment in RiskStar is not simply a technology decision. It is part of a broader effort to support responsible, informed decision-making over time.
LFUCG now has a unified, reliable system for managing its property data and is expanding its use across departments. Over time, this will support more consistent tracking of asset changes and reduce reliance on siloed processes.
What began as an effort to strengthen data confidence has evolved into a more comprehensive approach to managing property risk across the organization.
To download the Property Appraisal Services Vendor Evaluation Framework, please fill out the form below.
