e2Value: Guiding The User Among The Plethora of Answers
e2Value offers state-of-the-art online software for property valuation solutions used by the insurance, inspection and banking industries primarily to determine the most accurate replacement cost for residential, commercial and agricultural properties in the US, and residential and commercial properties in Canada.These valuation solutions assist customers with Insurance-to-Value and collateral value monitoring needs. Determining the true replacement value of a home, commercial building, condo or manufactured home, as well structures on a farm or ranch is critical for those purchasing insurance as well as the insurance agent and provider.Financial institutions needing accurate replacement values for homes in flood zones also use this software.
e2Value® developed and patented their valuation tool that, while similar to a search engine, guides the user to the one best answer versus the plethora of answers that a search engine typically returns.Their valuation tools allow customers to obtain accurate valuations—and ones that make sense to all parties involved in the process. The tools are easy to use, understandable and cost-efficient.
The key products from the company are Pronto® Residential and Pronto Commercial, which provide instant insurance values after inputting only the property address.In addition to these innovative products, other significant differences that set the company apart from competitors are its patented, web-engineered processes that were built for the web and live only in the web.
“We think we have a better ability to discern values that allows us to provide better service and pricing”, says Todd Rissel, Co-Founder.
e2Value gained traction across the US and Canada because of superior customer support—answering their calls and returning emails promptly and constructively—and because their products work well so their clients can better focus on their own business.Their clientele includes top banks and insurance carriers across the US and Canada by size, as well as insurance producers, inspection vendors and individuals.
While the expert team at e2Value gathers data and tests the resulting values against builder’s estimates, the most important way to test these values is based on actual claims submitted by their clients. e2Value’s software has been in use since 2000 so there have been numerous events that tested their values. A short while ago, one of their customers contacted them with claims data and feedback about a valuation.
“Recently one of our customer’s clients suffered a total, covered loss due to an electrical fire that burned down the house. The good news is no one was hurt and the home can be rebuilt,” says George Moore, Co-Founder, elaborating on the benefits brought to the client.
The Pronto Residential valuation for this home was $513,000. The customer’s claims department valued the home at $507,000 based on a builder’s estimate. These two values,$507,000 and $513,000, are only $6,000 apart or 1.2% of the value.“Our goal is to be within 5%—which means a range of plus or minus 2.5%—of any structure’s value using the same, correct structure characteristics. The feedback from our customer is that we were well within our goal on this home, “says Moore.
This is only one example of the accuracy of e2Value‘s property valuation tools but is a typical example. They want to ensure that the property value estimates are as accurate as possible and appreciate hearing from customers, whether the feedback is good or not so good. With permission, they will publish the information either way.
“While our hope is that no one suffers a significant, covered structure loss, they do occur. If it does happen, we hope you achieve a similar outcome. Feel free to let us know your results,” says Todd Rissel.
Moving forward, e2Value, Inc. is planning to increase their market share in insurance, add to their banking products, and market their AV3 tool, an Automated Valuation Model (AVM) for residential and commercial properties.