Change Detection
Monitoring changes at renewal
Properties and lives change. Can your data keep up at renewal?
From a new pool to a new vacancy, the homes you insure and the people who own them can present ever-evolving risk profiles. Capturing what’s changed at renewal demands constant awareness.
14% of properties have experienced a coverage-impacting event since policy inception
More than $19.7B in roof claims in 2021
63% of vacant properties are written on traditional homeowners forms
Renewals are opportunities
Tap the profit potential in renewals with timely data that overlays property and homeowner changes and helps provide a clear view of your book. Change Detection looks at the risk from multiple angles to give you a more complete perspective on upcoming renewals.
Property Changes: Track permits and premium-impacting events. See how properties are maintained or modified that can mitigate risk or change the insurance-to-value equation.
Ownership Changes: Use owner information as an indicator for condition issues. Uncover changes in life and financial status that suggest potential for neglected maintenance and deferred repairs.
Better decisions start with broad data
Property Changes
Track permits and premium-impacting events. See how properties are maintained or modified that can mitigate risk or change the insurance-to-value equation.
Ownership Changes
Use owner information as an indicator for condition issues. Uncover changes in life and financial status that suggest potential for neglected maintenance and deferred repairs.
Monitor changes at renewal
From renovations to foreclosures and ownership transfers, Change Detection helps uncover events that shift a property’s risk profile to help you capture accurate premium, underwrite to your risk appetite, and protect profitability.
Property condition can change over time—or overnight
Property condition can change over time—or overnight
An ecosystem of data, imagery, and powerful analytics can help assess age, condition, and even hidden damage that can affect the roof, major systems, and property features.
The Lifecycle of a Property
Discovering property change events helps insurers obtain a clearer view of their portfolio to help focus on profitability, maintain underwriting standards, focus on new business growth, and help homeowners protect their investments with adequate coverage.
What do renovations mean for insurance to value?
What do renovations mean for insurance to value?
As homeowners complete projects to maintain the structure's integrity and to address changing needs, these renovations can affect coverage levels and potentially lead to underinsurance. Insurers have the opportunity to capture appropriate premiums to support growing risk.
Maximize actionable underwriting data at bind and renewal
Evaluating property risk is increasingly complex and data-intensive. You can simplify workflows and accelerate underwriting and rating with a consolidated, wide-ranging, and continually updated source.
Tap into further policyholder insight
Coverage Verifier
Discover coverage lapses in a policyholder’s history.
Jornaya
Learn of potential policyholder defections—or cross-selling opportunities.
Complementary solutions
Additional insights
Three renovation trends that are important for insurers to monitor
By uncovering property change events during the policy life cycle, insurers can better understand their book of business.
Read the article
How can changes in home ownership and occupancy create hidden risks?
Knowing a property's history, including changes in ownership and occupancy, is essential to paint a vivid picture of a property's condition.
Read the article
Capture insurance to value at renewal for personal property
With renovations increasing rapidly, the pressure to monitor property changes has increased to promote premium and ITV alignment.
Read the article
Keeping up with home improvements—and insurance to value
Knowing when a property has been updated is critical, as these changes can add new liability risks and insurance-to-value considerations.
Read the article