Press Contact – e2Value:Jay S. Winuk
Winuk Communications, Inc.
Tel: (845) 277-1160
Contact – RSMeans: John Shea
Tel: (781) 422-5004
e2Value® Partners with RSMeans® to Provide Real-Time Valuation for Residential, Commercial, Farm and Ranch Properties
New eValue-MCV™ Automated Valuation Tool replaces the CostWorks® Valuator for Insurance for RSMeans Clients in U.S., Canada
Stamford, Conn. (July 9, 2007) e2Value, Inc., a leading provider of Insurance-to-Value Internet applications, and RSMeans, the foremost provider of construction cost data in North America, today announced a partnership that will integrate the RSMeans family of construction cost data solutions into e2Value’s real-time real estate replacement cost valuation platform. The new tool, eValue-MCV, is being phased in for customers after June 29th when e2Value, Inc. formally acquired the RSMeans CostWorks Valuator for Insurance.
Within the insurance industry, e2Value is known as the leading hosted application provider delivering replacement cost valuations over the Web for all residential, commercial and farm and ranch properties in the United States. This acquisition will give RSMeans CostWorks customers access to the leading strategic insurance technology partner recognized for offering full-service application development, insurance consulting, and products to assist with Insurance-To-Value.
“This partnership brings together two of the most trusted names in construction costs and valuation data and services,” said John Ware, General Manager, RSMeans. “No one executes insurance cost valuations better than e2Value. And RSMeans is unmatched in providing construction cost data. Our combined strengths will immediately pay dividends for our customers, providing them with enhanced functionality, with the industry’s best cost and value insights.”
The partnership enhances RSMeans data – making it possible for customers to determine accurate replacement cost value within an increasingly volatile real estate market, and to conduct analyses that account for both replacement value and construction costs. The association with e2Value expands the RSMeans offering to encompass commercial and farm and ranch valuations that were previously unavailable to RSMeans users.
“Our unique valuation platform will bring an entirely new level of insight into construction pricing by providing our customers access to the RSMeans data and experts in construction cost for residential and commercial properties,” said Todd Rissel, CEO of e2Value, Inc. “Our partnership with RSMeans also extends our reach into the Canadian market, marking a major milestone for our business.”
RSMeans will maintain its customer service and product support through September 2007, when e2Value assumes those responsibilities.
The eValue-MCV platform provides replacement cost valuations for properties throughout the United States and Canada, with estimators focused on residential structures. By utilizing a standard set of selection criteria and automatically adjusting cost valuation based on US zip codes or Canadian postal codes, the eValue-MCV platform eliminates subjectivity from the valuation process. In addition, the Web-based platform is built to capture user preferences and deliver information in report-ready summary or detailed formats.
About RSMeans and Reed Construction Data
RSMeans, (www.rsmeans.com) a Reed Construction Data Company, is the foremost source of construction cost information in North America, with 25 annual cost data products, and multiple CD, online, and OEM software solutions that offer quarterly cost updates. RSMeans also offers more than 60 construction reference publications, a nationwide seminar program, and consulting services.
Reed Construction Data (www.reedconstructiondata.com) is a leading worldwide provider of quality construction information products and services designed to advance the businesses of its customers with timely, accurate and actionable project, product, and cost data. Reed Construction Data is part of Reed Elsevier (NYSE: RUK and ENL) – a world-leading publisher and information provider.
About e2Value, Inc.
e2Value, Inc. is a full-service application development, insurance consulting, strategic technology partner and provider, offering products to assist with Insurance-To-Value (ITV) and workflow solutions. Founded in 1999 by former insurance executives and based in Stamford, Conn., e2Value is the leading hosted application provider delivering replacement cost valuations over the Web for all residential, commercial and farm and ranch properties in the United States. The company offers full-featured, knowledge-based Internet applications for insurance, real estate and banking professionals that enable consistency and standardization of pricing, processes and procedures. e2Value provides a tool that tracks through the entire sales → valuation → final claim process via an application that maximizes the latest available technology, and provides quick and easy updates without a significant investment in software or infrastructure. Its customers range from the world’s leading insurance companies to one-person insurance agencies, as well as banks, property appraisers and risk managers. For information visit www.e2value.com, or contact email@example.com or call 888-371-2788.