The Solution To ITV

iClarify™ is a unique property insurance validation tool that provides the insurance industry with the knowledge they need to assess risk with confidence. Developed from the largest nationwide repositories of total loss claims from ClaimsPro and inspection data from SCM Risk Management Services (RMS), iClarify™ is the only validation tool that provides instant access to precise geo-coded property intelligence, valuation data, and streetscape imagery. Our valuations are validated by ongoing research that considers and monitors economic factors, industry trends, local restoration costs, residential inspections, and Canadian total loss data. When combined, this information provides tremendous insight used to ensure that our clients receive the most current, local, and accurate valuation costs through iClarify™.

The Research

In support of this validation, Opta conducts several studies throughout the year which include:

• Canadian Total Loss Studies
  iClarify™ valuations are updated quarterly based on research into total loss records nationwide and through other total loss claims across Canada’s regions.
• Canadian Inspection Reports
  New reports from RMS are updated quarterly based on research into total loss records nationwide and through other total loss claims across Canada’s regions.
• Canadian Reconstruction Cost Studies
  Opta conducts three extensive studies each year from 86 cities across Canada which have been identified as ‘Centres of Influence’. Data is collected from 300 licensed contractors and generates over 7750 data points annually that are used to validate the accuracy and regional relevance of iClarify™ replacement costs across Canada. These studies gather local reconstruction cost data on multiple sample homes which vary in size and features. Local taxes, overhead and profit, productivity, debris removal, general conditions and other essential costs are completely and accurately reflected in the local reconstruction values of homes.

As the largest aggregator of property data in Canada, iClarify™ has the power to generate accurate replacement values on ANY residential risk, be it urban, suburban or rural.

A recent total loss study was conducted across Canada using 41 losses. As shown, there is very minimal variance between iClarify™ Valuation and Contractor Estimate, with an average variance of -1%. All 41 results are well within the industry benchmark of +/- 15%.

	Ontario Contractor Estimate: $1,546,495 iClarify™ Valuation: $1,453,200
	Quebec Contractor Estimate: $520,201 iClarify™ Valuation: $503,608
	Manitoba Contractor Estimate: $259,213 iClarify™ Valuation: $268,710
	British Columbia Contractor Estimate: $463,400 iClarify™ Valuation: $502,471
	Alberta Contractor Estimate: $410,640 iClarify™ Valuation: $411,851

Supported by 90% of Canadian Insurance Companies, iClarify™ is the only desktop solution that lets you validate property data instantly, accurately and efficiently.