Features of RiskStar Property Risk Management Software You Might Not Know About
by Patrick Whitney, Customer Care Manager At Centurisk, we know keeping up with changes in the risk management and insurance industries can spread risk managers a little thin. Following current industry trends while juggling valuation schedules, renewal dates, data updates, new construction data, and property sales can make it hard to feel confident in your […]
Tips for Evaluating Your Upcoming Appraisal Pilot Project
by Justin Deem, Vice President of Appraisal Operations Embarking on a pilot appraisal project is a significant endeavor — one that demands meticulous planning, precise execution, and effective communication. This small starter project becomes such a big deal because your full appraisal will be based on the methods of data collection and the processes finalized […]
Desktop Appraisals vs Full Appraisals for Property Insurance Valuation
As risk management and the insurance industry have grown and shifted, property insurance appraisals have changed along with them. The methods available for assessing property values have evolved with advancing technology, new rising needs, and global challenges like the COVID pandemic. Traditionally, the full appraisal (also called an “onsite appraisal”) has been the gold standard […]
Property Valuation Trend Factors for 2024 and How to Deal with Large Fluctuations
Understanding trend factors and how to manage their impact on property valuation is crucial in today’s dynamic insurance landscape. As organizations navigate through market fluctuations and economic shifts, the replacement cost value of properties can experience significant increases over time, directly influencing insurance premiums and risk exposure. Replacement cost value represents the expense required to […]
Property Condition Vs Quality: What Both Mean and How They Impact Valuations
by Greg Friz, Director An insurance appraisal is an assessment to determine the value of an insured item or property. It helps insurance companies determine coverage for the insured and set the appropriate premiums. Property condition and property quality are two factors that can impact the valuation of an insured property. What is Property Condition? […]
RiskStar’s Role in Your Risk Software Ecosystem
by Tyler Stuber, Director of Professional Services/Operations These days, risk management has evolved beyond merely preventing and reducing losses. It’s also about maximizing areas that are within the organization’s control and minimizing the areas outside of it. This growing enterprise risk management (ERM) perspective takes a holistic look at all functions of an organization, working […]
Defining the Scope of Your Property Insurance Appraisal Project: Key Questions to Answer
by Ryan Tate, Centurisk Director, U.S. East When it comes to risk management and property insurance, having a clear understanding of the scope of your property insurance appraisal project is essential. Whether you’re a seasoned professional or new to the process, gathering the right information upfront can help streamline the appraisal process, ensure you receive […]
Tips for Managing Property Risk & Exposures from the Risk Manager of Gotham City
by Prudence Shields Greetings, fellow guardians of property and prosperity! As the property risk manager of Gotham City, I know firsthand how protecting one’s beloved burg from significant loss can feel like a heroic task. Over the years, I’ve learned a thing or two about effective property risk mitigation, and today I’d like to share […]
New Year’s Resolutions for Your Property Data
With 2024 on the doorstep, our thoughts inevitably turn to New Year’s resolutions. Sure, the standard pledges to improve fitness or reduce clutter are a positive way to start the year. But this year, why not do something a little different… and resolve to improve your property data? Here at Centurisk, we’ve made it easy […]
The Hot Details on Fire Resistive Construction & Other Verisk Construction Classifications
With wildfires blazing across North America, and property owners fearing for their families, homes and businesses, having the right insurance coverage before disaster strikes takes on a whole new level of importance. How fire-resistive is your property? For property managers, reinsurers and risk pools, knowing your fire-resistance class and having the right Verisk (formerly ISO) […]