LexisNexis Risk Solutions Rooftop Analytics Solution Demonstrates Up to 20x Lift
"Roof losses continue to rise," said
According to the 2021 LexisNexis Home Trends Report being released in early Q4, 50% of all home insurance losses over the last year were weather-driven. To help insurers address this trend and better assess risk, LexisNexis Rooftop:
- Provides a highly predictive risk score from 1-100 that indicates the likelihood of a large weather claim within the next 12 months
- Returns a score more than 95% of the time, even if a recent aerial image is not available
- Delivers up to 80 actionable attributes including recent weather events and related claims insights along with dozens of imagery insights from Arturo
- Is available system-to-system in an automated process through the LexisNexis single point of entry
- Has received early approvals from some state regulators.
"We're excited about the role that imagery analytics play with LexisNexis Rooftop. In addition to roof condition indicators like roof discoloration or seam repair, home insurers will get powerful insights that help them ensure the homeowner is fully covered – like the presence of additional structures or solar panels, and liability risks such as swimming pools and trampolines," said Arturo's CEO
"Based on an internal
The LexisNexis Rooftop model shows up to a 20x lift in loss cost relativity and an 18x lift in claims rate relativity between the highest-risk properties and lowest-risk properties. Together with the accompanying data attributes, this can act as a powerful tool for insurers for faster, more cost-effective decision making.
For insurers, these attributes and scores can help them move from a reactive position to proactively partnering with their homeowners. Adding imagery capabilities to the auto and home claims dataset from
For more information about LexisNexis Rooftop, click here.
LexisNexis® Risk Solutions harnesses the power of data and advanced analytics to provide insights that help businesses and governmental entities reduce risk and improve decisions to benefit people around the globe. We provide data and technology solutions for a wide range of industries including insurance, financial services, healthcare and government. Headquartered in metro
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