Authors of the 2019 LexisNexis Home Trends Report examine trends by peril and developments in underwriting, claims, expense management, technology and other factors important to homeowners writers.
New types of data, including aerial photography and activity data, are giving insurers a more complete view of risk.
New ways of gathering and processing data is allowing insurers to go beyond one-off decisions.
Auto insurers were the earliest adopters of data analytics, but homeowner carriers are quickly catching up.
Homeowners can be skeptical of insurers' efforts to collect data, but are more receptive when insurers return the fruits of that data as actionable information.
Recent years have seen a larger share of catastrophe-related homeowner losses, making preparedness a key tasks for insureds and carriers.