Increase your buildings insurance business using real-time residential rebuilding cost estimates from the UK's leading independent experts.
The BCIS Residential Rebuilding Cost Look-up Service is an industry standard tool used by insurance professionals that ensures robust, consistent and validated rebuilding costs for the insurance Industry.
It allows the insurance industry to obtain instant, real-time estimates of a property's rebuilding cost. The industry has always suffered from inconsistent and inaccurate rebuilding costs causing continued confusion among insurance buyers – until now.
The BCIS Residential Rebuilding Cost Look-up Service gives you:
- Improved pricing - the service plays a significant part in quoting a more accurate and competitive premium for the risk
- Increased business - offer building insurance quotes even when the customer is unaware of the rebuilding cost
- Reduced risk - greatly reduced risk of under-insurance
- Better service - help can now be offered in an area that has previously proved difficult
- FSA compliance - supports the 'treating customers fairly' initiative
The easy-to-use BCIS rebuild calculator, is designed to empower customers and subsequently enable them to get the most accurate home insurance quotes possible. As a result, customers could end up saving significant amounts of money on their policies. We are delighted that the BCIS has worked so closely with us.
The BCIS rebuilding Cost look-up service has proven invaluable to us in helping to simplify the Home insurance quote process for customers. It has had a very positive impact on the customer journey and the implementation was done swiftly with the minimum of fuss.
The service is easily accessible using industry standard XML technology. It is competitively priced against other industry look-up services in general use such as DVLA vehicle checks, HPI Credit checks and postcode services. BCIS rebuilding cost estimates are based on the following information:
- Full postcode
- Wall construction - brick or stone
- At least one of the following - number of bedrooms; number of rooms; floor area
- Property age - year of original construction
- Type of property - semi, detached, etc.
- Roof construction - Tile, slate, thatch or flat
- Number of floors
- Number of garage spaces
- Number of bathrooms
For an overview of the service, including details of the types of properties covered and what's included in the rebuilding cost calculation, please see the documents below.
Please note, this service is for business-to-business use only. Members of the public wishing to find the rebuilding value of their home for insurance purposes should refer to our house rebuilding cost calculator (Free service).
For further information about the service, please contac BCIS consultant Mike Bartley or call +44 (0)24 7686 8433.
Alternatively, for professionals in the Oceania region, please email RICS Manager of BCIS Oceania Roger Hogg or call +61(3) 8679 4102.
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