Growth and profitability

8/28/2023 - 4 min read

Maintain ITV in a volatile market with property-level insights

Insurers must explore changes affecting their risk portfolio and leverage component- and property-level insights to help them maintain ITV.

7/14/2023 - 2 min read

As MVR fees increase, Verisk expands violation risk capabilities

A new Verisk analysis finds the national average motor vehicle report (MVR) fee has risen to $10.65 and increased more than 25 percent over the past decade.

7/13/2023 - 3 min read

Quarterly reconstruction cost increases continue to steady

Total reconstruction costs increased 4.3% from July 2022 to July 2023. This uptick follows the 3.1% increase from April 2022 to April 2023.

6/20/2023 - 3 min read

Reconstruction costs vs. market value: the hidden coverage crisis

Market value and reconstruction cost estimates are unique measures subject to different forces; only RCEs should be used for coverage.

5/4/2023 - 3 min read

How insurtech can better determine sufficient contents coverage

From estimating to calculating: Predictive modeling and machine learning remove the guesswork from evaluations.

4/28/2023 - 0 min read

Having the best of both worlds in property and auto inspections

Determining or verifying key risk characteristics of insured property or vehicles can be costly, labor-intensive, and time-consuming.

4/12/2023 - 2 min read

Reconstruction cost dips signal increased market stabilization

Total reconstruction costs, including materials and labor, increased 3.1% from April 2022 to 2023. Costs continue to slow down and steady.

3/6/2023 - 5 min read

How non-rate actions are easing personal auto profitability pressures

Verisk has seen a marked increase in insurers seeking strategic sourcing of non-rate actions to confront premium leakage in 2023.

2/8/2023 - 1 min read

The claims connection: A key consideration for ITV alignment

The truest test of an ITV solution is how it performs with actual losses, which can yield critical data to validate and calibrate RCEs.

1/18/2023 - 2 min read

As increases slow, reconstruction costs show signs of stabilizing

Total reconstruction costs, including materials and labor, increased 6.8% from January 2022 to January 2023, a drop from the last quarter.

11/17/2022 - 2 min read

How Verisk actuaries found a use for a decades-old data distribution

The Zipf-Mandelbrot Law has rarely been used in insurance—until now.

10/31/2022 - 2 min read

Keeping pulse: Tracking the latest price surges to maintain ITV

Verisk data shows the cost to rebuild a property is still more than 11 percent higher, on average, than it was pre-pandemic.

10/3/2022 - 3 min read

Non-rate actions: Dial in profit during a hard personal auto market

Non-rate actions that don’t require a rate filing are one of the fastest ways to help with insurers’ profitability during a hard market.

7/15/2022 - 2 min read

Taking a data-driven view of evolving Florida roof risk

Florida’s statutory environment surrounding coverage for roofs may demand more robust data to clarify risk amid increasing complexity.

6/29/2022 - 1 min read

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.