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Information Bulletin RE: EvalWorks Home Evaluation Short Form Questionnaire
October 1, 2009. Sooke, BC –After numerous requests from brokers and companies to make a simple, quick and accurate evaluation tool, PowerSoft is pleased to announce the release of the Canadian Insurance Industry's FIRST short form evaluation questionnaire. Utilizing our trusted EvalWorks replacement cost technology, the short form questionnaire is quick and easy-to-use tool that only requires a single screen of data entry and generates accurate evaluations for most homes.

The short form questionnaire generates the EXACT SAME VALUES as all the other accepted EvalWorks products, meaning that every insurance company in Canada is already accepting the short form questionnaire. The only difference between the short form and other EvalWorks driven products is the amount of detail that is required, and the number of assumptions that are made. When information put into the short form is re-entered into another EvalWorks product (PowerHouse, PowerQuote, PowerHouse Web) identical values are generated.

The short form questionnaire uses the same layout and data entry fields that are familiar to existing EvalWorks users, but only requires 19 completed data entry fields in order to get a replacement cost, meaning there are virtually no training requirements for existing EvalWorks users. These data entry fields are designed to collect all the necessary dwelling details to evaluate 'main street' type residential homes which represent typically 80% of all homes in Canada. Homes outside the typical 'main street' residential dwellings are required to be evaluated using the standard full form evaluator.

The short form questionnaire is not a separate evaluation tool that needs to be purchased, but a new option for completing an evaluation in all of our existing EvalWorks products. Every PowerSoft client who currently uses one of our EvalWorks replacement cost tools (PowerHouse, PowerQuote, PowerHouse Web) will have the option when starting an evaluation if they would like to use the "full form" or the "short form". If a home evaluation is started in a short form, and then needs to be converted into a full form evaluation to enter more detail, there is a simple one-click process to migrate the data from the short form to the full form evaluation.

The short form questionnaire does have some limitations, and if any of these limitations are met, the broker would be required to use the full form evaluation tool. These limitations include:

• Custom/Architecturally designed/high end luxury dwellings
• Dwellings constructed pre 1960 that have been completely renovated
• Dwellings with custom features
• Dwellings with additions/wings/ells

In addition to these limitations, the if the following criteria are entered into the short form, the evaluation will automatically be converted to a full form:

• Dwellings over 4500 square feet
• Dwellings with more than 3 fireplaces
• Dwellings with more than 4 full bathrooms
• Dwellings with more than 5 total bathrooms (full or half)
• Dwellings with a garage, fireplace, air conditioning and a deck

Since the short form questionnaire has been designed as a simple and streamlined evaluation tool, a number of assumptions are made about every dwelling to help facilitate this objective. If a dwelling does not include some or all of the assumed features, it should be noted that these costs will have a nominal impact on the total value of the dwelling, and typically will offset costs of other additional items which are not included in the short form questionnaire. To get a replacement cost without the assumed features, the broker can use the full form evaluation tool. Assumptions include:

• Fireplace type determined by the dwelling stories,
• All fireplaces include an insert
• Smoke detectors, dishwasher, range hood, HVAC, central vacuum
• Flooring types are assumed based on the classification of the dwelling
• Air conditioning assumed to service entire house if selected

The short form questionnaire uses the exact same EvalWorks engine as PowerHouse, PowerQuote and PowerHouse Web, and therefore generates the exact same values. The reports on the short form are also identical to the reports generated on the full form.

The Short Form Questionnaire has already been released in PowerHouse Web, and will be released in PowerQuote and PowerHouse in the coming weeks.

If you have any questions about EvalWorks or any PowerSoft replacement cost program, please do not hesitate to contact PowerSoft at 1.888.833.7697 or visit our website at www.power-soft.com