Capture a critical risk factor with confidence
Verisk combines permit insights, assessor records, and an array of other data elements to assess the age of a structure’s roof using our deep industry experience and advanced data science.
There are about 75 million properties in the US with roofs approaching the end of life1
$1.31B in annual premium leakage due to underestimated roof age2
50% increase in severe wind, thunderstorm, and hail events3
The cost and structural complexity of a roof, coupled with its critical role as protection from the elements, can raise particular concerns for many property insurance underwriters. Verisk estimates U.S. roof claims exceeded $19 billion just in 2021, making up about 30 percent of all property loss dollars.
Refine risk selection and segmentation, accelerate quote to bind, prioritize use of inspection resources, improve renewal strategy, and fine-tune catastrophe model outputs.
Validating roof age is a long-standing challenge for many home insurers. In our recent webinar, we explored the challenges of roof assessment and how Verisk’s roof solutions can enable insurers to accelerate underwriting and more insights to assess risk.
Validating roof age is an ongoing challenge for many homeowners insurers that demands a range of reliable sources to verify age, condition, and characteristics.
This report reviews and summarizes U.S. hail activity in 2021, including breakdowns of severe events and the most active states and counties. You’ll also learn about the impacts of hail activity in new regions, the possible near-term effects of climate change, and how increased hail activity may affect roof replacement.
Hail Damage Score assess the potential for pre-existing hail damage to a property. Hail Risk Score measures the likelihood of future damage over the short to medium term.
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