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.
Non-weather-related water damage patterns vary by region, as do claims from theft.
In order to gain greater access to homeowners' data, insurers must offer insureds benefits such as loss mitigation.
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.
Auto insurers were the earliest adopters of data analytics, but homeowner carriers are quickly catching up.