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.
Younger homeowners have shown some surprising changes in frequency of shopping for homeowners insurance.
New ways of gathering and processing data is allowing insurers to go beyond one-off decisions.
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.
In order to gain greater access to homeowners' data, insurers must offer insureds benefits such as loss mitigation.
Auto insurers were the earliest adopters of data analytics, but homeowner carriers are quickly catching up.