EQC Costing database

Details

EQC is evaluating the provision of a costing database and delivery mechanism(s), to allow for accurate pricing of claim settlement, which would be able to satisfy the ongoing needs of EQC for business as usual, but also, has the required scalability to support large scale natural disaster events.

The purpose of this RFI is to allow EQC to evaluate the options that are available within the New Zealand Market for the provision of a costing database.

EQC currently has developed internally, a costing database which houses line item property repair costs segmented by components such as materials, labour and repair methodologies. This information is used to calculate a settlement figure via scope of works assessment.

This database was initially developed some years ago, but was scaled up markedly through the Canterbury series of events and has been adapted for use in the subsequent events. Due to inherent characteristics of the Canterbury events, the database has limitations in its application outside of Canterbury and is focussed solely on damage caused by earthquakes, rather than the other natural disaster events that EQC covers e.g. volcanic eruption where removal of ash may become a requirement.

Additionally, in seeking to ensure the standardisation of the application of costing information, options for a delivery mechanism to users conducting assessments are also being considered.

This is seen as an ideal time to understand whether or not EQC continues to develop to its own capabilities or outsources this function.