Case Study: Extra Space Storage boosts SOV data accuracy and insurance engagement with Archipelago

Extra Space Storage - Customer Case Study

Extra Space Storage, a major real estate investment trust, faced a significant challenge in manually managing the Statement of Values (SOV) data for its dynamic portfolio of thousands of properties using spreadsheets. This process was cumbersome and resulted in gaps in data quality, which hindered their insurance placements. To power its new insurance strategy, Extra Space Storage implemented Archipelago's SOV Manager™ and Property Hub™.

Archipelago transformed the data management process with AI-powered software, automating document uploads and dramatically improving data completeness and accuracy. The solution enabled a 10x improvement in data quality, automated 1,500 documents, and achieved 99% completeness for primary COPE data. This empowered over 100 insurance underwriters to engage with the high-quality data, providing Extra Space with superior strategic insights and streamlined reporting.

Extra Space Storage

Kacey Kalian

VP of Risk Management