How are Line Items Built in the CoreLogic Construction Claims Database?
New line items are added to the CoreLogic Claims Construction Database in a monthly release, driven by CoreLogic Construction Cost Estimator research into new and expanding choices in building materials and by user request. When a request for a new line item in the claims database is received, the Pricing Delivery team handles the triage of these requests. The most common submission method is a Pricing Analysis Inquiry, where users can request information on existing line items or request the creation of new line items. When a request is received, the CoreLogic Pricing Delivery team will review that request and determine if the database has a solution to meet the user’s needs by using an existing item(s) or providing line-item clarification. Suppose the CoreLogic Claims Construction Database has no current option that meets the user’s needs. In that case, the CoreLogic Pricing Delivery team will create a ticket to the CoreLogic Pricing Analysis team for research and development.
The CoreLogic Pricing Analysis team starts building new claims line items by reviewing the submitted ticket to understand the specific request and any details submitted by the end user. The CoreLogic Construction Cost Estimator assigned to the ticket examines the existing options within the CoreLogic Claims Construction Database to verify if any pre-existing items are similar or related to the new line- item ticket. With tens of thousands of construction components and construction assemblies available within the CoreLogic Building Cost Database, a CoreLogic Construction Cost Estimator can begin assembling new claims line items using new and existing research and data. CoreLogic Construction Cost Estimators will also perform market research and validate the build-out and pricing of a new claims line item while considering at least three (3) industry references and material sources.
Upon completion of research for material pricing, labor time and efficiency, and any applicable equipment, this data is peer-reviewed and quality-checked by multiple CoreLogic Construction Cost Estimators. Once quality checks are complete and the line item is finalized, the CoreLogic Pricing Delivery team receives the line item data for entry into the CoreLogic Estimate program. The final step for delivery involves review and final validation of pricing, measurements, functions, and any adjustments to line-item descriptions. CoreLogic provides a monthly Construction Claims Database update, with thousands of new line-item Actions added annually.
Claims Pricing Feedback
CoreLogic is committed to continually improving the content of our pricing data- bases. Feedback may be submitted as a new item request, price review of existing items, clarification on existing items, suggested changes, or other suggestions relevant to the pricing database. Our team of experts will review and respond to the request when feedback is submitted. They may ask for further clarification as needed. Updates will be provided to the requestor as the feedback is reviewed and processed for update into a future release of the pricing database, if applicable. To submit Claims Pricing Feedback, please visit our online portal at Pricing Analysis Inquiry
Construction Pricing Database Methodology
For a detailed explanation of the holistic methodology used in the CoreLogic Claims Construction Database, please refer to the CoreLogic Construction Pricing Database Methodology Whitepaper.
©2024 CoreLogic, Inc. All rights reserved. While all of the CoreLogic information in this article is believed to be accurate, CoreLogic makes no guarantee, representation, or warranty, express or implied, including but not limited to as to the completeness, accuracy, applicability, or fitness, in connection with the information or any of the CoreLogic products referenced herein including, but not limited to, the AI/ML based features or content of any of the CoreLogic
products referenced herein and assumes no responsibility or liability whatsoever for the information or any reliance thereon or on any of the CoreLogic products referenced herein. CoreLogic®, Estimate™, Marshall & Swift®, Symbility®, and Claims Connect™ are the trademarks of CoreLogic, Inc. and/or its affiliates or subsidiaries.