The Silicon Review
“Property has its duties as well as its rights.” – Thomas Drummond
Searching solutions for valuation problems? Then look no further than e2Value. A leading innovator in all sectors of the valuation industry, e2Value is the brain child of Todd Rissel and George Moore founded in 2000. Their extensive experience working with carriers and producers to appraise homes and commercial buildings of any size, any value helped them understand exactly what customers wanted from the valuation software. As the leading provider of web-based property valuation solutions, e2Value can assist with all of Insurance-to-Value (ITV) and collateral value monitoring needs.
Their online property valuation software is fast, cost-effective, accurate and offers an excellent user experience. e2Value has the only patented web-based valuation system for their Methods and for Estimating Building Reconstruction Costs in the insurance industry. The company is a web-engineered SaaS tool that makes it easier to integrate with other partner applications and with customers’ current and future technologies. e2Value now serves over 600,000 users across the United States and Canada.
The Differentiating Factor
The company’s values are constantly validated by losses and catastrophes. During the critical time after these events, the ability to have accurately valued structures, anywhere in the US and Canada, is put to the test. e2Value can provide values with just a few inputs – like just an address – for the most modest cabin in the woods, to manufactured/mobile homes, to custom farm buildings, to offices and to the most valuable of homes.
Valuation Services Offered
Residential: e2Value’s EVS program allows meeting all of ITV and collateral value needs for residential properties within a single valuation system. Their solutions work for any type and any size residential property, from Mainstreet homes to high-value homes, as well as condos and co-ops, mobile and manufactured homes.
Commercial: Their estimator can accurately calculate replacement costs and actual cash value for virtually any commercial structure, from apartment buildings and retail shops to hospitals and manufacturing facilities. e2Value allows stakeholders to instantly view and share all the property data in one report, which allows them to begin collaborating about the structure immediately.
Farm and Ranch: e2Value provides the only web-based estimator dedicated solely to farm and ranch properties. Their Homestead program allows users to calculate replacement costs and actual cash value for a home and virtually all types of agricultural equipment and structures within a single valuation system.
Banking: For bank professionals, e2Value offers AV3, an Automated Valuation Model (AVM) that uses the three vetted approaches to value to provide consistent, standardized benchmark values in an integrated report. AV3 is USPAP compliant and follows the current oversight guidelines for AVM use in monitoring of collateral values and origination and monitoring of Home Equity Lines of Credit (HELOC). Pronto provides instant and complete valuations with just the property address, and can be used to develop the proper value for properties in the bank’s portfolio, for flood insurance and to reduce risk.
Inspection Workflow Solutions: e2Value offers a workflow solution that streamlines the inspection process for both insurance carriers and inspection companies. Inspection requests can be sent to field inspectors, who fill out and return reports online. Reviewing and updating is easy because all property data is contained in one report that can be accessed from anywhere with internet access.
Integration Options: e2Value’s integration options offer the choice of a single sign-on for system’s clients, customized integration that allows the exchange of data, or XML integration that allows you to completely customize the system to meet your needs while maintaining the accurate and reliable performance of the e2Value system.
Offering Excellence via Pronto
The company is proud to offer Pronto, the online replacement cost valuator for residential and commercial properties that delivers instant insurance values. To solve clients’ valuation problems e2Value developed Pronto. This product, delivered over the web on a subscription-based, software-as-a-service model, is their response to the challenges facing property insurers and banking professionals today.
Fast, accurate and easy to use, Pronto allows customers to access a comprehensive valuation report instantly, after entering only the property’s address. This product is the answer to one of today’s greatest challenges for property insurers, which is the need for simultaneous improvement of the customer experience while increasing efficiency through the use of a cost-effective process and capturing property data in a format and location that makes it readily available for ongoing analysis.
Knowing the Mastermind
Todd Rissel, CEO & Founder: e2Value is Todd’s passion. Working with his business partner, George Moore, the company evolved from an idea in 1997 to a viable, growing business in less than five years. The e2Value Expert Valuation System is based on George’s programming and expertise. George is responsible for the technology of e2Value. Prior to working on e2Value full-time, George and Todd worked for the original Chubb Insurance. Chubb was among the leaders insuring high-valued homes in the United States and Canada. During their careers they developed efficiencies that significantly increased production, increased premium generated from appraisals, reduced the cost of operations and overhead.
Todd’s appraisal knowledge is partially captured in e2Value’s patented Expert Valuation System. Right out of high school he was a carpenter building custom homes on the coast of Maine. After a few cold winters shingling houses, he went to college and then on to Chubb. George spent summers in the concrete foundation business before finishing college and starting with Chubb.
Chubb Insurance recruited Todd for their, then, unique appraisal service to value the homes they insure, partially because of his building experience. He worked across the United States, Canada and even the Caribbean pricing and managing risk for some of the most valuable homes and art collections in the world.