Hastings Direct enhances property assessment with Verisk’s UKBuildings

Verisk, an insurance and analytics provider, has recently announced that Hastings Direct will now leverage its UKBuildings database to enhance its capabilities in assessing properties for insurance.

UKBuildings is a comprehensive, property-specific database catering to organisations looking for detailed building information, especially beneficial for residential and commercial insurance providers. It offers detailed rebuild valuations and property characteristics essential for risk assessment and rating purposes.

The incorporation of UKBuildings into Hastings Direct’s operations is poised to enhance their risk analysis and underwriting practices, providing their insurance underwriters with more valuable insights, such as specific property attributes like basements.

Simon Parker, Head of Household Underwriting at Hastings Direct, highlights his admiration for UKBuildings’ level of detail and its ability to identify particular aspects, stating, “Following the completion of a rigorous data test affirming the reliability and accuracy of Verisk’s UKBuildings, we were particularly impressed by the solution’s high level of detail and its ability to identify residential properties with basements.”

“The rich dataset will empower more informed decisions, strengthen risk management capabilities, and ultimately enhance the overall customer experience,” Parker adds.

Alex Croydon, managing director of general insurance UK at Verisk, expressed enthusiasm for supporting Hastings in its growth mission and improving its household insurance portfolio.

Croydon further highlights, “Our UKBuildings data is designed to help provide insurers with a comprehensive understanding of property attributes, and we are confident that this collaboration will yield positive outcomes for both parties.”

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