The Building Cost Information Service has partnered with Intelligent AI to launch the BCIS Intelligent Rebuild Cost Platform, which collates data from multiple sources to create rebuild cost reports for residential and commercial properties.

Anthony Peake, CEO of Intelligent AI, said: “A desktop assessment carried out to industry standards could take over an hour to complete. The BCIS Intelligent Rebuild Cost Platform can perform the same task, just as accurately and for less cost, in 10 seconds.

“This isn’t about replacing a human’s role in reinstatement assessments. It’s about automating the bulk of cases which are straightforward, while at the same time highlighting the cases where a surveyor does need to go in and make their own assessment.”

He added: “We’re essentially trying to avert disaster. Whether that's a residential property where a few hundred pounds difference in the premium could save the customer potentially missing out on hundreds of thousands of pounds in a payout, or a commercial portfolio where the declared value is upwards of a billion, it’s about safeguarding people’s homes and livelihoods should the worst happen.”