In the insurance industry, having accurate property data is essential for effective underwriting, risk assessment, and policy pricing. Estated and Marshall & Swift/Boeckh (MSB) are two prominent sources for such data.
This article provides a comprehensive comparison between the data retrieved through both Estated & MSB.
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Estated Data
Source:
Public records (tax assessor files, county records, real estate listings)
Scope:
Residential properties across the U.S.
Data Types:
Property characteristics (square footage, bedrooms, bathrooms, lot size, year built)
Ownership details (owner name, purchase price, sale date)
Property valuation (estimated market value, assessed value)
Usage:
Underwriting, marketing, risk assessment, property profiles, validating policyholder information
Strengths:
Broad coverage and comprehensive data from multiple sources
Regular updates ensure data accuracy
Easy API integration for seamless use
Cost-effective, providing great value for general property data needs
Limitations:
Data accuracy depends on the quality of public records
May lack some detailed property features and building materials
MSB Data
Source:
Specialized property valuation data, focusing on building costs
Scope:
Residential and commercial properties
Data Types:
Detailed construction costs (materials, labor, equipment)
Property characteristics (building features, quality, materials)
Depreciation and replacement cost values
Usage:
Property valuation, insurance underwriting, determining accurate replacement costs
Strengths:
Highly detailed construction and replacement cost data
Regarded as an industry standard for property valuation
Regular updates reflecting market trends
Limitations:
More expensive compared to other data sources
Complex integration requiring specialized tools
Key Differences
Data Focus:
Estated ~ Broad property data from public records and market values
MSB ~ Detailed construction and replacement cost data
Use Cases:
Estated ~ Ideal for general underwriting, marketing, and validating information
MSB ~ Crucial for accurate replacement costs and detailed property valuation
Cost and Integration:
Estated ~ Cost-effective and easy to integrate
MSB ~ Higher cost with more complex integration
While MSB offers detailed and accurate valuation data, Estated stands out as a broad, cost-effective solution for property data needs, providing comprehensive and regularly updated information ideal for a wide range of insurance applications.