Home Insurance
Use Cases
Gain deep insight into home insurance property risks quickly and easily
Industry metrics show superior-performing carriers have 3% lower combined ratios than the average. Lowering underwriting and acquisition expenses, while reducing future loss can transform your business from average to high performing. Let CAPE® take you there.
Home Insurance Use Cases
Home Insurance Property Insights are used at quote to quickly identify the risk level and support direct, efficient quoting at the right price.
Minimize friction for the customer by cutting application time, gathering a reliable snapshot of true property condition, and providing the right level of coverage at the most accurate price.
Supplement and verify pre-fill data with the presence of characteristics like pools or solar panels, and confidently identify roof or yard condition, which predict risk at the time of quote without in-person inspections.
- Reduce downstream underwriting effort by catching undesirable risks earlier and fast-tracking desirable risks
- Mitigate adverse selection
- Improve customer experience
Home Insurance Property Insights are used to provide underwriters with information on risks in new business and renewal workflows.
Quickly identify high-risk policies with loss predictive data and thereby avoid losses and unnecessary underwriting expenses.
Better target the homes that need a physical inspection, leading to improved customer experience and dramatically reduced expenses.
- Reduce inspection expenses while maintaining an accurate view of risk
- Provide the right level of coverage to your insureds
- Streamline the onboarding process for new customers who are lower risk
- Educate customers and involve them in the risk mitigation process early on
Home Insurance Property Insights provide additional segmentation for new business and renewal pricing models, with loss-predictive attributes like Roof Condition Rating.
Risk signals, such as property conditions, are critical inputs into actuarial models.
Loss-predictive property characteristics can be relied on to price home insurance policies far more effectively than traditional methods like roof age.
- Higher profitability across the book of business
- Improved retention rates for good risks
Home Insurance Property Insights help route risks to the optimal inspection path (in person, virtual, skip inspection) for new business and renewal workflows.
Save inspection resources and avoid losses with targeted inspections. Due to high inspection costs, carriers typically inspect a low percentage of their renewals but roof condition is a proven indicator of future loss. Renewals monitoring helps lower risk, improve profitability, and enhance customer experience.
- Streamline the renewal process for low-risk customers
- Allow customers to mitigate property issues by providing insights into changing risk
- Improve retention through outreach to customers who replace their roofs
- Provide customers with transparent communication that involves them in the risk mitigation process—after all, most customers want to avoid claims