Renewal Analytics
Mild reconstruction cost rise signals stabilizing market
Total reconstruction costs increased 5.1% from October 2022 to 2023. This uptick follows the 4.3% increase from July 2022 to July 2023.
Exploring a future look at reconstruction cost trends
To help insurers navigate the increasing complexity in the market, Verisk has developed the Market Expectations Index for 360Value.
Smarter and faster: Prefill data to help accelerate workflows
Current and curated data about a structure’s age, square footage, and use are the backbone of reliable reconstruction cost estimates (RCEs).
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.
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.
What happens after catastrophes? Protection in a time of loss
Despite mitigation measures, natural hazards may still cause damage, and insurers need actionable data to guide underwriting and pricing.
How insurtech can better determine sufficient contents coverage
From estimating to calculating: Predictive modeling and machine learning remove the guesswork from evaluations.
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.
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.
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.
Three strategies for reliable commercial property valuations
Enhance ITV with 360Value for Commercial Property, which includes monthly price updates and an a pioneering method for estimating contents.
Identify hidden drivers throughout the policy life cycle
Undisclosed drivers cause the most premium leakage in auto insurance, but data across the policy life cycle can help tackle the problem.
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.
Steady increases continue for motor vehicle report fees
The cost of motor vehicle reports (MVRs) continues to climb for insurers; the latest Verisk analysis shows the nationwide average at $10.32.