New Normal
Auto application fraud up 18%: New approaches to help mitigate risk
Artificial intelligence powers search-and-match algorithms that improve hit rates and predictive analytics help identify insurance fraud.
Personal auto is off-roading: How to get back to profitability
A new Verisk analysis evaluates the personal auto insurance industry and how to get back on track using several strategies and solutions.
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.
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.
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.
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.
Economic shifts shape the unfolding journey for homeowners insurers
Supply-chain issues, labor shortages, and high demand for building resources are complicating factors as homeowners insurers head into 2022.
2021 personal auto growth and profitability: Unprecedented in new ways
Personal auto insurers had a year without precedent in 2020, and 2021 may break more new ground, but in very different ways.
Accelerating competitiveness with a digital auto insurance ecosystem
How can auto insurance leaders adapt and stay competitive amid evolving pandemic-related trends? The key may be a digital ecosystem.
Unpacking the 2021 new normal for personal auto mileage
Personal auto mileage has fluctuated widely through the pandemic and the emerging new normal. It may be time for insurers to leverage analytics to avoid premium leakage.
Current cost estimates key to manage lumber’s ‘demand surge’
Property insurance underwriters relying on up-to-date cost data to cope with higher reconstruction estimates amid lumber's price volatility.
The big build: How a rise in renovations may affect property insurance
People spending more time at home seemed to ultimately help many insurers, as loss frequency declined in 2020 year over year across several categories.
The COVID-19 journey for homeowners insurers: Building on lessons learned and new-normal strategies
Economic turmoil, lifestyle changes, and transitions to remote work amid the COVID-19 pandemic created a “new normal” for personal property insurance.
Awaiting a verdict: The evidence so far on personal auto’s new normal
Verisk continues to watch personal auto insurance trends resulting from the COVID-19 pandemic and provide likely scenarios and guidance for the new normal.
9 likely new-normal scenarios for personal auto insurance
As personal auto insurers navigate the coronavirus recession and recovery, complex social and economic trends appear set to shape the industry’s “new normal.”