Post by CAPE Analytics

🏠 Getting replacement costs right is important for property owners, carriers, and the wider risk value chain, says John Clark, if the insurance industry is serious about addressing the underinsurance crisis in the U.S. When there is insufficient coverage to rebuild homes after a cat event, it is bad for clients, desperately making up shortfalls at a difficult time, and bad for carriers faced with sensitive consumer issues and even the prospect of litigation. John points to wildfire losses—such as the 2021 Marshall Fire in Colorado, where three-quarters of homeowners had insufficient coverage to rebuild. But with many factors driving complexity in establishing replacement cost, John suggests new solutions are needed to help increase data integrity. Assisted by #AI and benefiting from over 10 years of experience, Moody's underwriting solutions incorporating CAPE Property Intelligence can help carriers build data integrity by using sound, verified foundational data. 👉 Find out more about Moody's Home Insurance Property Intelligence solutions for underwriting here: https://lnkd.in/e-GwttXa #underwriting #insurance #propertyintelligence #riskmanagement

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