iCLARIFY™ VALUATIONS...desktop solution that lets you validate property data instantly, accurately, and efficiently. optaintel.ca Opta Client Care 1.855.218.0784 569 County Road

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iCLARIFY™ VALUATIONS:POWERED BY THE LARGEST DATABASE OF CLAIMS & INSPECTION DATA IN CANADA

CASE STUDY: ONTARIO


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iClarify™ is a unique property insurance valuation and 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™ has evolved to become the only valuation tool that provides instant access to precise geo-coded property intelligence, valuation data, and streetscape imagery.


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HiClarify Residential™ valuations are powered by precise geo-coded property intelligence and 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™.

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

Canadian Total Loss Study

Through our association with ClaimsPro, the largest independent claims adjusting firm in Canada, iClarify™ valuations are updated quarterly with access to the greatest repository of total loss records nationwide and through extensive regional analysis of Canadian total loss claims. This information is used to validate our replacement costs, making iClarify™ the strongest and most accurate valuation source in the industry.


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HA recent total loss study was conducted for Ontario using 34 losses. As shown, there is very minimal variance between Contractor Estimate and iClarify™ Valuations.

Year BuiltNumber

of Stories

Living Area (sq.ft.)(not including

basement)

Current Contractor Estimate

Contractor Estimate Sq. Ft. iClarify Sq. Ft. iClarify Valuation iC/CE

1975 2 2,100 $408,505 $194.53 $184.47 $387,387 -5.17%

1965 2 2,600 $422,281 $162.42 $192.11 $499,486 18.28%

1990 2 1,000 $202,527 $202.53 $192.82 $192,820 -4.79%

1970 1 2,200 $378,920 $172.24 $182.97 $402,534 6.23%

1935 2 1,950 $328,478 $168.45 $158.86 $309,777 -5.69%

1975 1 2,100 $530,448 $252.59 $259.22 $544,362 2.62%

1980 1.5 2,015 $471,428 $234.01 $225.58 $454,544 -3.60%

1915 1.5 1,100 $311,110 $282.83 $270.90 $297,990 -4.22%

1900 2 1,700 $482,073 $283.57 $268.43 $456,331 -5.34%

1950 1 1,250 $279,431 $223.54 $250.23 $312,788 11.94%

1995 1 1,200 $258,219 $215.18 $238.65 $286,380 10.91%

1965 1 850 $155,540 $182.99 $205.40 $174,590 12.25%

1950 1.5 1,475 $318,628 $216.02 $206.11 $304,012 -4.59%

1930 1.5 1,100 $284,273 $258.43 $218.32 $240,152 -15.25%

1945 1 1,000 $186,143 $186.14 $190.30 $190,300 2.23%

1985 1 1,500 $431,926 $287.95 $222.99 $334,485 -22.56%

1945 2 1,050 $196,906 $187.53 $184.93 $194,176 -1.39%

1955 1 1,190 $283,488 $238.23 $240.05 $285,660 0.77%

1980 2 1,790 $389,052 $217.35 $232.27 $415,763 6.87%

1990 1 900 $146,672 $162.97 $191.44 $172,296 17.47%

2000 2 2,300 $398,799 $173.39 $172.90 $397,670 -0.28%

1960 1 850 $212,580 $250.09 $254.39 $216,232 1.72%

1985 1 1,100 $205,511 $186.83 $199.39 $219,329 6.72%

1985 1 1,615 $339,293 $210.09 $213.91 $345,465 1.82%

1955 1 1,055 $233,796 $221.61 $235.96 $248,938 6.48%

1976 1 1,279 $217,195 $170.35 $201.24 $256,581 18.13%

1998 1 970 $228,038 $235.09 $201.80 $195,746 -14.16%

1961 1.5 770 $154,484 $200.63 $215.01 $165,558 7.17%

1972 1 950 $224,725 $236.55 $207.01 $196,660 -12.49%

1953 1 1,300 $288,460 $221.89 $217.35 $282,555 -2.05%

1930 2 1,764 $332,946 $188.74 $208.90 $368,500 10.68%

1950 1 1,168 $236,113 $202.15 $212.91 $248,679 5.32%

2009 1 1,218 $229,633 $188.53 $184.69 $224,952 -2.04%

1958 1 1,700 $343,200 $201.88 $209.32 $355,844 3.68%

TOTAL $10,110,821 $212.27 $213.26 $10,178,542 0.67%

* Based on 2013 study


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HCanadian Inspection Reports

Through our association with RMS, the largest home inspection company in Canada, iClarify™ has access to the greatest repository of inspection data nationwide. New reports are updated into iClarify™ weekly and provide unique property attributes allowing our values to be driven by real Canadian data.

iClarify™ has unique information on over 1,100,000 properties in Ontario. In addition to this, we have access to other sources that provide us with almost complete coverage for the province of ON.

Below are samples of real data maps showing the number of inspections completed within 1 km radius of any given address.

Hearst

Toronto

Bancroft

Kenora

Perth

Parry Sound

North Bay

Petawawa

London

Property of Interest Inspection

iClarify™P OW E R E D BY2011

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2012 (May)

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2013 (May)

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2015 (May)

Toronto Windsor Sudbury Kapuskasing Norfolk

North Bay Oshawa Parry Sound Pembroke

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2013 (May)

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2014 (Jan)

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HCanadian Reconstruction Cost Study

Opta conducts three extensive studies each year, gathering 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. These studies are conducted 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 in Canada.

In Ontario, the 23 Centres of Influence are Toronto, Ottawa, Windsor, Sudbury, Barrie, Guelph, Hamilton, Kapuskasing, Kenora, Kingston, Kitchener, London, Norfolk, North Bay, Oshawa, Parry Sound, Pembroke, Peterborough, Sarnia, Sault St Marie, St. Catherines, Thunder Bay and Timmins.

A recent Reconstruction Cost study completed on a 2000 square foot home highlights the changing cost per square foot since the study’s inception in September 2011.

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F iCLA

RIFY™

iClarify™ is committed to providing accurate property valuations that represent local, current, and accurate replacement costs. Our access to the largest database of claims and inspection records nationwide combined with extensive regional total loss studies empowers users to assess risk with confidence knowing that each property is accurately insured to value.

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

optaintel.ca Opta Client Care 1.855.218.0784

569 County Road 33, Lyndhurst, ON

Contractor Estimate: $379,103iClarify™ Valuation: $355,060

8600 Malden Road, Windsor, ON

Contractor Estimate: $502,070iClarify™ Valuation: $528,933


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iCLARIFY™ VALUATIONS...desktop solution that lets you validate property data instantly, accurately, and efficiently. optaintel.ca Opta Client Care 1.855.218.0784 569 County Road