BuildFax (Verisk) - Property intelligence solutions for insurance

BuildFax (Verisk) emerged after the housing crisis of 2007, when buyers became interested in property value estimation done the right way. Back when BuildFax launched operations, big data was just a nascent concept. The business applications of big data were only being discovered, and the number of sources to obtain data from was significantly smaller. It’s all changed now.

These days, we have so many data sources that conventional methods of their processing have become inefficient. BuildFax (Verisk) had to switch from traditional databases to working with big data in a modern way. STX Next helped them smooth the transition.

In order to transform the way they processed their data, BuildFax (Verisk) needed trustworthy, reliable developers. They also required the flexibility to scale up and down according to their development needs.

BuildFax first tried hiring people in-house, but couldn’t find the right skills on the market, so they decided to go looking for external resources instead. That was when STX Next came into play.

The technology BuildFax (Verisk) was using had become so inefficient that the speed of receiving data was sometimes taking up to four times longer than the maximum time business logic allowed. Our goal was to provide BuildFax (Verisk) with modern tools for handling big data.

The migration of huge data sets and the algorithms necessary to process them had to be imperceptible to the end user. BuildFax’s clients were only supposed to notice that the data was more up to date and available faster.