First American Financial’s (FAF - Free Report) unit ACI launched OpenHouse to offer flexibility in the appraisal process by allowing desktop and exterior-only inspection as well as maintaining social distancing.
OpenHouse is an innovative valuation technology that permits appraisers to remotely collect property information and integrate collected information directly into an appraisal report.
With the introduction of ACI OpenHouse, appraisers can assemble property information directly from the ACI platform. OpenHouse permits safe dispatch of photos and responses from a series of questions. After completing this process, the appropriate information is returned to the ACI platform, permitting appraisers to produce a supported report.
Appraisers often face difficulties while supporting health and safety of people in real estate transactions as well as collecting property data for making appraisals as stated by the chief appraiser at First American Staff Appraisals, LLC. The launch of ACI OpenHouse will enable appraisers to gather information through an automated process so as to ensure secure and consistent experience for both the appraiser and inspection contact.
ACI OpenHouse will also enable appraisers to save time in the management of the inspection process. It will help them to improve the appraisal workflow.
Shares of this Zacks Rank #3 (Hold) property and casualty insurance have lost 23.2% in the past year, compared with the industry’s decline of 12.1%. Nevertheless, the company’s policy of ramping up growth and capital position should continue to drive share price higher.
Stocks to Consider
Some better-ranked stocks from the same space are Donegal Group Incorporation (DGICA - Free Report) , ProAssurance Corporation (PRA - Free Report) and United Fire Group, Inc. (UFCS - Free Report) . While Donegal Group sports a Zacks Rank #1 (Strong Buy), ProAssurance and United Fire Group carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Donegal Group surpassed estimates in each of the last four quarters, with the average positive surprise being 271.06%.
ProAssurance surpassed estimates in two of the last four quarters, with the average positive surprise being 16.38%.
United Fire Group surpassed estimates in one of the last four quarters, with the average positive surprise being 9.57%.
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