Renewal Analytics
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.
Capturing mileage across a shifting auto insurance landscape
One statistic profoundly affected by COVID-19 lockdowns has been miles driven, and so capturing mileage more precisely may become critical for auto insurers.
You’ve changed: Life events fuel premium leakage
Like any long-term relationship, the one between an insurer and a policyholder is bound to evolve as circumstances change. Events in the customer’s life—marriage,…
Flood titles: In the wake of hurricanes
As Gulf Coast communities from Texas to the Florida Keys begin a years-long recovery from the onslaughts of hurricanes Harvey and Irma, another surge is on the way. This…
Mileage drives $5 billion in annual premium leakage
Underreported mileage is a major factor in claim volume, driving more than $5 billion each year in premium leakage.
Defining the nuances of data, information, and knowledge
Data-driven, big data. Knowledge worker, knowledge management. Information economy, information age. Such terms are tossed around all the time, but what do they really…
Auto frequency, severity: Woes persist
An updated Verisk analysis shows that the elevated auto claim frequency and severity that emerged in 2014 and continued into 2015 did not subside in 2016.
Avoid vehicle errors to curb premium leakage
A Verisk analysis reveals that misinformation about insured vehicles accounts for billions of dollars in premium leakage for personal auto insurers.