Opta Precise Services Loss Control
From the centre of an urban neighbourhood to an isolated community, we’ve expanded our suite of loss control solutions to let you confidently inspect any type of risk, anytime, and now—even in the most remote locations of Canada. We’re redefining the future of loss control with a new virtual inspection solution that engages the homeowner into a simple, inspector assisted experience guiding them through a data and photo capturing process using HOVER’s mobile application. By combining our loss control expertise with HOVER’s proprietary patented technology, HOVER’s “to-the-inch” accuracy transforms photos into a fully measured model calculating the property’s total living area, which is used to determine an insurable replacement cost calculation – making this the first of its kind solution in Canada. This cost effective service is ideal for remote or difficult-to-reach locations, as part of updating or re-underwriting files, or complimenting your digital consumer journey, all while reducing turnaround times. Connect with us to learn more.
A LOT HAS CHANGED. The effects of the inflation on construction costs this year have undoubtedly made an impact on your portfolio. There’s no better time than now to get a quick view of any changes, ITV gaps, or new exposures like flood, perils, or wildfire on your inforce policies or renewals.
HAVE AN INSPECTION BACKLOG? We can help you prioritize which properties to inspect by precisely identifying which homes are more prone to loss and need to be inspected first. Let us run your book, score it and inspect it.
From traditional onsite assessments to our new virtual inspections, we’re redefining the future of loss control with enhanced technological capabilities and a full suite of flexible solutions to meet your changing needs and help you optimize your inspection budgets for maximum return. Connect with us to find the right loss control solution for your business
With the largest geographical footprint nationwide, our team of over 150 loss control experts gather millions of unique features and uncover exposures and valuation gaps every day. By combining our field expertise with Opta’s industry-best data & insights, we provide unique rooftop intelligence, bringing awareness of local dynamics in changing housing construction, building material costs, neighborhood revitalization, and other regional trends that impact reconstruction costs. Coast to Coast, we’re delivering ground truth insights reflecting current trends across Canada—allowing you to mitigate against future losses and manage your risk portfolio, profitably. Read our latest Reconstruction Cost Analysis Report for Q1.
Continued Spike in Home Renovations
Opta’s loss control experts continue to see a spike in home renovations during the property inspection process. Pre-pandemic, one in every 50 homes had renovations underway, and now, two years later, and we are still seeing a consistent rise where nearly 1 in every 20 of the homes inspected have significant renovations underway and include a Course of Construction (COC) supplement. We are also seeing a significant rise in basement renovations being finished to a much higher level of quality. Our analysis shows that homes undergoing renovations generate an average of 40% more critical recommendations and have a higher variance in replacement cost.
Precise Services has a wealth of historical data covering various Canadian regions and risk occupancies. We combine our data with local knowledge of current construction material costs, economic factors, the available pool of skilled contractors and labourers, and specialized debris removal and equipment costs. The result is qualified appraisals that help to accurately insure properties and equipment to value. Connect with us to learn more.
Your Partners in Loss Control.
As leaders in loss control, Opta Precise Services has been driving the industry’s evolution with valuable information and loss control since 1883. We’re pleased to provide the P&C industry with complimentary accredited seminars designed to further your risk management knowledge with expert advice and real-life examples presented by one of our loss control specialists. Enrol in one of our seminars today! (individual or group presentations available):
Home Safe Home
This seminar focuses on safety areas within the home, eliminating hazards and reducing risks for everyone.Enrol
Gain a better understanding of residential construction costs and its relationship to insurance value with a detailed view into valuation issues.Enrol
Water Damage Prevention
Get insight into one of the biggest issues that property owners and insurance companies face today.Enrol
Fuel Storage Tanks
This seminar will provide an insurance perspective of domestic fuel storage tanks, giving insight into failures that not only affect the environment, but also property owners and insurance companies.Enrol
Solid Fuel Burning Appliances
Get a detailed review of wood heat with emphasis toward safety concerns, code compliance and a hands-on approach to this viable heat source.Enrol
This seminar will provide insight into the systems of a house including the electrical, plubming and heating systems as well as roof coverings.Enrol