According to CoreLogic, Xiance enables insurers to pinpoint a property’s vulnerability to natural disasters such as earthquakes, wildfires and hurricane-driven storm surge flooding, prior to determining availability and extent of insurance coverage. Users will benefit from enhanced risk selection, underwriting efficiency and improved loss ratios.
The platform includes two main components, including Batch Wizard, a batch-data functionality to match and append data for large sets of property files, and Map View, which allows for visualizing individual properties to determine hazard risk and premium tax data.
The vendor hopes the product will be useful for mid-level insurance providers, including carriers, agents, wholesalers and managing agents/underwriters.
