Adverse selection and unrecognized risks can be a constant drain on profitability in property insurers’ portfolios. Properties held under an LLC are nearly three times as likely to have condition issues, and 1 in 100 properties on insurers’ books is vacant. Around 22% of rental listings are found to be insured on homeowners forms.
Use extensive data sources to highlight potentially hidden risks—before they land in your portfolio.
Flag properties with underlying risks that may require additional inspection.
Bring data forward at point of quote for more confident decision-making and a better, more seamless customer experience.
Specific homeowners data, such as foreclosure status, can affect a property's risk profile. Between two properties that look nearly identical, there's a worrisome indicator: a severely stained and deteriorating roof. Knowledge like this enables a more efficient use of resources, calling for an inspection only when necessary.
Verisk’s Homeowner Data is developed through a range of diverse data sources and is analyzed and validated to provide easy-to-understand insights for insurers.
Some owners protect their house through an LLC or a trust. Rental listings and vacancies may indicate increased risk, requiring further investigation.
Length of ownership, number of open mortgages, and foreclosure history often correlate with a homeowner’s ability to maintain a property.
A comparison of the recent purchase price to market value could flag homes in disrepair if sold below market value.
Use a full spectrum of advanced tools and data to optimize your personal property underwriting.
Keep homeowners better protected with replacement cost estimates built on real-world claims and multisource data.
Tap the profit potential in renewals with timely data that overlays property and homeowner changes.
Know the health and age of a structure’s major systems to support accurate risk assessment.
Use virtual inspection capability to efficiently gather and confirm critical information.
Uncover risks and bring application data to life with high-resolution aerial imagery.
Achieve precise and optimized quotes by integrating claims data upfront, plus a new crash report enhancement for auto.