Its no secret that the insurance idustry is plauged with insuraning buildings that have problems. FInding the correct path of property inspections have been at best a drive by inspection, with most inspectors not even getting out of the car. ITs said that in the roofing industry alone 42% of all insurance losses are on roofing systems with 25% of losses from water damage. If we look into the roofing idustry alone, its been said by a leading insurance company, that 70% of all roofing system for which have have a claim, are past their useful life, or were not installed properly.
The National Building archives will help building owners and insurance compamies cut costs in premiums and in losses, by our new inspection services comming in the spring of 2022. This service allows for properly trained inspectors to give a third party inspection for proper application meeting application standards of the International Building Code (IBC) along with meeting manufacturers specifcations.
We are currently in negotiations with many municipalities in the Texas market to share building code data in buildings that permited the repair work as part of the certification process.
Loss prevention can use this data to help reduce losses by notinsuraning properties that are in poor condition, are properly ventilated and installed in accordance with manufacturers specifications.
While sustainable solutions are still in their infacy, the National Building Archive can also tack materials type and help predict losses based on chemistry. Its no secret that the construction industry embraces ASTM standards that only show a proven test model for exterior products of only 3 years, but im not sure how many building owners or insurance companies wat to invest in products that only reach these low standards. The National Building Archives can track materials types from Cradle to Grave and predict failurs as we build our database.
Insurance companies like building owners, need to embrance long term sustainable solutions, not short term poorly made products with fancy names like "Lifetime" as used in industry marketing. Its said that 40% of all landfill wastes is construction materials 20 years or less in age. At the same time manufacturers are demising products to increase profits while at the same time increasing the cost of construction products at 25% per year, with zero proven sustainability.
Insurance companies, like building owners can use the resorces of the National Building Archives to see what construction products have proven track records of sustainability and make financhel decisions based on that information. Inusuraning a roofing system with proven 40 years in sustainablity vs one that requires constant maintence is great for manufactuers, but not for Main Street consumers looking to save money on building costs and insurance costs.
Building owners as well as insurance companies can rely on the information in the Digital Cornerstone to make long term finachel decisions.
Call us today for more information.