e2Value was established in 2000 by insurance executives who built software, not software engineers who built insurance solutions. The business offers structured information and valuations to the real estate insurance industry and collateral appraisals to the banking industry. The Founders of e2Value, Todd Rissel, and George Moore, had the idea to launch the company while they were still using valuation services and were frequently dissatisfied with the outcomes.
The pre-2000 services were clumsy and slow and would generate as many results as there were users. The instruments often produced values for less than half of the required value, which is a crucial error.
Navigating Through Difficulties
The paper was e2Value’s biggest rival 22 years ago. Technology back then consisted of a fax machine or a portable touchtone phone. Although everyone carried a pocket organizer, calls had to be placed on a pay phone.
The team at e2Value created a SaaS product back then that they continue to supply today. It provides standardized, consistent data, quick results, and – most importantly – correct values. The business serves more than 800 customers and operates throughout North America.
Capital is getting more expensive due to changes in the financial markets, pandemics, the Russian war against Ukraine, and increasingly extreme weather events. Large capital calls were relatively simple to access even two years ago. Or, to put it another way, there was more room for ambitious performance expectations and more room for error. Today, there is less tolerance for risk and room for error. Investors seek accuracy. e2Value provides its clients with accuracy and better outcomes at a better price when it counts.
Advancement In The Industry
A sales representative for IBM once referred to insurance as “the Amish of technology” when discussing the sector. That is most likely accurate from a purely technological perspective. However, that person overlooked what insurance firms are good at managing risk. The first contact made to an insurance company following a calamity, once everyone is safe, is because there are enormous sums of money at risk. That cannot be lost due to a fad.
Insurance companies still need to implement cutting-edge technology, which can lower expenses. In 2000, e2Value offered a solution compatible with an API and a cutting-edge AI service. The team at e2Value offers a service that may be bundled right along with the industry’s ability to update its underlying technologies to be able to bundle the services it needs.
Today, e2Value can swiftly and accurately appraise a home or a business building for anyone with an address. Most people have little trouble filling out an application’s address field. The output must still be accurate, high-quality, and quick, though. e2Value also sells time to its clients in addition to excellent data and excellent values. By utilizing other technologies, even inputting an address can be done automatically. Press a button on the phone. Want to know more about a customer? Text someone. Do you need some answers? Text someone. Need another picture? Text someone. The questions and all responses were validated in three minutes.
Leaving The Competition Behind
e2Value has a cutting-edge system designed for modern technologies. The team provides the client with the exact thing they requested. It is built on a three-dimensional model, which is advantageous given that life exists in three dimensions. This aids us in producing superior results.
Todd and George, Founders, say:
“Regrettably, our value is more quickly revealed with catastrophes. A tornado, a storm, a wildfire, etc. These incidents alter communities, people’s lives, and economies significantly. Not just one or two homes but the entire community is under stress. Consumers can get assistance from a group called United Policyholders with any issues they may have about insurance and consumer advocacy across all insurance markets. Consumer surveys from those who lost their homes are available between 2007 and this year. Those numbers portray a picture that our clients do not experience. Real persons and actual events are shown. Not advertising. Not a commercial. It narrates what would have occurred absent e2Value.”
The technology works. e2Value only directly communicates with about 2% of its clientele; the other 98% communicates via keystrokes. Most of those direct interactions are for support. When the technology works, nobody needs to contact e2Value. The entire team works with clients from the point of sale to the point of implementation to provide them with information, APIs, help materials, etc., needed to implement the service. After that, while the team is still available, it is rarely needed.
Conclusion
e2Value are expert in their field. Their best year ever has been every single year. The group wants to keep doing that, but not at the expense of perfection. The best data, value, and solution for the data and values that e2Value’s clients seek will continue to be featured in future offerings. The partners they collaborate with will also make a difference. Every carrier, MGA, MGU, E&S, and wholesaler for P&C may use the expertise and solutions the entire team possesses to provide exceptional outcomes for their clients.
