Support/FAQ

 

What is John Foord Analytics?

John Foord Analytics is a comprehensive, global and simple to use online platform to help owners, insurers and advisors estimate current reinstatement costs for fixed assets across their portfolio.

Who are John Foord?

John Foord, founded in London in 1828, specialises in the valuation of commercial and industrial buildings, civils, structures, plant and equipment.

As a truly independent advisory firm, delivering advice of the highest quality that minimizes risk is central to our purpose. Our focus is to build trust and transparency with our clients, the insurance and financial markets and wider society.

We support insurance companies, re-insurers, brokers and owners by assessing current reinstatement costs, indemnity values and actual cash values.

What is the difference between John Foord and John Foord Analytics?

The traditional method for arriving at accurate reinstatement costs, as provided by John Foord, is to carry out a detailed site survey or on desk assessment. This approach has its benefits and is often the only viable approach for complex or unique locations.

However, many clients and their advisors have more straightforward assets and want a simple way of quickly assessing whether values need more detailed analysis or whether current values are within an expected range.

John Foord Analytics, a subsidiary of John Foord Group, is a cloud-based platform giving clients real-time access to accurate reinstatement costs by applying AI and machine learning to millions of data points on similar assets.

What does the Analytics platform provide?

John Foord Analytics provides clients with an estimated reinstatement cost for their locations to within a declared degree of accuracy based on a small number of typically easily accessible details on the location.

How does the John Foord Analytics platform work?

John Foord Analytics integrates sophisticated proprietary modelling algorithms with decades of unique valuation and cost data, as well as third party databases, to arrive at reinstatement cost assessments.

Users choose an industry category, input the location, select a report option based on the information available and then enter a number of key details on the subject facilities. The platform produces a reinstatement cost estimate which the user can download as a report.

I don’t see my industry shown?

We are rolling out new industries continually and, depending on your subscription package, these will be made available to you as they are published on the platform.

What technology is this based on?

The platform applies the latest in Artificial Intelligence and Machine Learning technologies across a range of tools hosted on Amazon Web Services (AWS) to ensure data integrity, cyber security, rapid response times and global solution scalability.

Where does the data come from?

John Foord Analytics uses decades of John Foord valuation data collected across tens of thousands of individual locations. The platform also integrates third party data sources such as government indices, public records on occupancies, as well as construction material and equipment cost information.

Can I share the results with others?

The platform is designed to allow you to download a report in Adobe PDF format on each assessed location. You can share this with colleagues and other parties as required.

Is my data safe?

Based on Amazon Web Services (AWS) infrastructure, the John Foord Analytics platform uses the latest cloud security features to ensure that your data is protected. We have also designed the platform to require minimal client information so that only essential data is required and stored.

How accurate are the values?

The platform offers three levels of accuracy based on the information provided by you. This is to ensure that users can get an answer with a minimum amount of information but that they can also supply additional information if a more accurate assessment is required.

John Foord Analytics integrates sophisticated proprietary modelling algorithms with decades of unique valuation and cost data to arrive at reliable reinstatement cost assessments based on mathematical probabilities. The modelling algorithms have been independently validated by third party AI and data scientist consultants. The platform’s underlying technology works by analysing thousands of similar locations and millions of other data points.

By providing under 10 items of information the platform can produce consistent values within 30% of those produced by traditional site survey inspections and analysis. With under 20 data points, tests have indicated an accuracy within 15%.

If up to 30 data points are provided, tests have shown an accuracy within 5% of values produced by traditional site survey inspections and analysis.

Can I use the figures shown in the John Foord Analytics platform for my declared values at risk?

If up to 30 data points are provided, we estimate the accuracy of the estimated reinstatement cost produced by John Foord Analytics to be within 5% of values produced by traditional site survey inspections and analysis. This is within the tolerances usually acceptable to insurers for declared values.

We therefore believe that the highest accuracy level is suitable for declared values at risk but it should be noted that a specific location may be an outlier to the models so care should be applied, particularly if a location is known to be unusual or has multiple occupancies. Users may also wish to verify if their current policy or coverage needs to reflect demolition and debris removal, cost escalations, the value of spares or stocks and other elements which are not currently included in the cost figures produced by John Foord Analytics.

Can I use the values from the Analytics platform in a Risk Engineering Report?

We believe that the John Foord Analytics platform allows owners, insurers and advisors to have access to the best possible current information on the likely reinstatement costs of an asset or facility.

These values may be included in a risk engineering report, but we would request that the source of the value is credited, and we would also suggest that it is made clear this value was arrived at using modelling and not through a detailed site inspection.

How long can I use the values shown?

As with all valuations, the results produced by the John Foord Analytics platform reflect the circumstances, economy and assets at the date of the assessment. Clearly these factors can change over time, sometimes rapidly.

Particularly with facilities that contain large elements of materials or equipment sourced from multiple countries, foreign exchange movements can have a significant influence on costs declared in USD over a short period of time.

That said, in the current low inflation environment, we believe that the estimated reinstatement costs produced by John Foord Analytics are reliable for the duration of a standard insurance policy terms of 12 months.

Will John Foord explain the calculations behind the values?

The John Foord Analytics platform allows owners, insurers and advisors to have access to the best possible current information on the likely reinstatement costs of an asset or facility. We would not have launched this product if we did not feel that the results were robust and reliable. However the platform is not designed to replicate the service and level of follow up support supplied by traditional valuation firms such as John Foord. If further analysis or support is needed beyond the reports produced by the John Foord Analytics platform then we would recommend a discussion with the John Foord valuation team at enquiries@johnfoord.com.

What countries/regions are included?

This is a global platform designed to produce assessments wherever in the world your assets are located.

How often are the models updated?

The platform is designed to constantly learn and evolve using newly imported data, Artificial Intelligence and Machine Learning technologies. This means that the models are updating continually. In practice, once detailed information on a location is entered, it is unlikely there would be a material movement in estimated reinstatement costs for a particular property within a six to twelve month period. As Covid has shown however, situations can change rapidly and the advantage of the John Foord Analytics platform is that users can verify costs continually in an economic way.

What if I do not have all the data needed?

The platform requires a small amount of easily accessible information on each location. Different levels of data input drive different levels of accuracy on the platform, such that the “Feasibility” report requires less than 10 core pieces of information on the subject facility.

If you are unable to source the key data please contact the helpdesk on your options for John Foord Analytics validating or inputting data on your behalf.

Can John Foord fill in the required data?

Please contact us if you have a large volume of information to enter. We offer a service to facilitate the uploading of large datasets. Depending on the scale this may incur additional charges but, if a charge is necessary, we would discuss these costs with you in advance.

Can John Foord find the data required for the models?

Not only do we have extensive information on many industries and locations from our decades of valuations, but we are also constantly developing ways to pre-populate data in the platform, for example using Google and other available resources. Please contact us if you have a specific requirement or question on this point.

How do I sign up?

Contact us today at analytics@johnfoord.com and we can get you started. Sign up is easy and quick.

Do you also calculate Business Interruption estimates?

We do not currently offer Business Interruption estimates within John Foord Analytics.

Will the Analytics platform provide Estimated Maximum Loss or Probable Maximum Loss values?

We do not currently offer Estimated Maximum Loss or Probable Maximum Loss estimates within John Foord Analytics, but we are developing enhancements to the information provided by the platform and we intend to expand the services offered by the platform in due course.

Can I use the values from the Analytics platform in an Underwriting Submission?

We believe that the John Foord Analytics platform allows owners, insurers and advisors to have access to the best possible current information on the likely reinstatement costs of an asset or facility.

These values may be included in an underwriting submission, but we would request that the source of the value is credited, and we would also suggest that it is made clear this value was arrived at using modelling and not through a detailed site inspection.

How do I select a location if I don’t have the address?

If you do not have an address for the facility being assessed, try entering the facility name in the “State/Region/Address” field since the platform may be able to identify the location from this.

If this does not indicate the location, select country and enter the state/region, choose a location on the map and select one of the addresses shown close to the subject property.

How do I save my information if I need to come back to it later?

There is an option during the entry process for a new assessment to save your progress and data if you need to return to this later. The saved drafts will show on your dashboard and you can continue your progress from there.

How do I download a report?

Once you run an assessment you will have the option to download the detailed report from the assessment results page. This can also be accessed from your dashboard.

What are the next industries you will add?

We have a pipeline of new industries we are working on but are open to suggestions from clients on which industries and sectors would be most beneficial.

What happens if I use up my assessment credits?

If you have a question on your subscription please contact your corporate administrator handling your John Foord Analytics account or you can contact us at helpdesk@johnfoord.com.

How can I see what credits I have left?

If you have a question on your subscription please contact your corporate administrator handling your John Foord Analytics account or you can contact us at helpdesk@johnfoord.com.

Can I discuss the values produced by the platform with a valuation expert?

John Foord Analytics is designed to be a simple cloud-based estimation tool that is easy to use and comprehend. We currently do not offer support services, such as commentary on specific values, within the subscription packages.

However, if you have a technical issue with your subscription please contact your firm’s account manager or you can contact us at helpdesk@johnfoord.com.

If your question relates to the values for a specific location, you can request a proposal for a detailed site survey or on desk assessment by contacting John Foord directly at enquiries@Johnfoord.com.

Is there a technology helpdesk available if I have issues with the platform?

If you cannot find the answer to your question on the operation of the platform here, then please contact us for technical questions at helpdesk@johnfoord.com and we will get back to you as soon as possible.

Do I have a dedicated account manager?

If you have a Silver or Diamond subscription, then you have access to a dedicated John Foord Analytics account manager. Please contact your corporate administrator handling your John Foord Analytics account.

Contact Us

To find out more about how John Foord Analytics can benefit you, get in touch with us today and a member of our team will reach out to you shortly.

Get In Touch