Increase Revenue
Identify properties accuractly and uncover untapped potential
Improve Pricing & Policy Terms
Accuratly determine price, adjust policy terms and minimize premium leakage
Avoid Loss
Improve risk assessment, select better risk and mitigate unknown exposure
How We Estimate Roof Age
2011
2013
Know Your Numbers
With GeoX​
2%-3% Increase in Gross Written Premium ​
Reach 85% coverage ​and boost performance
Access 95% accuracy rate data for improved
risk management
Improve roof age accuracy of client-supplied
data by 45%
Identify properties with roofs older than 15 years (Industry standard) ​
Without GeoX​
Accurate roof age data leads to 1.31$ billion
annual premium leakage
Industry range of 5%-7% fill rate based on permit data
70% of Homeowners underestimate by
5 Years (source)
20% of Homeowners underestimate
by 15 years (source)
The 3 Big Problems
The Roof Age Go / No Go
Most carriers tend to accept or reject properties based on the industry rule accepting
properties with no older than
15 years of roof age.
Often, the data available is incomplete, and when it
is supplied, it relies on the client
or agent assessments.
Importantly, it's worth noting that 66% of homeowners underestimate their roof's age by 5 years,
and 20% underestimate it by as much as 15 years.
1
​Inspectors Inefficent Allocation
The process of obtaining reports is costly and time-intensive, often taking several days to complete.
This involves scheduling inspections with policyholders,
which can add complexity.
In addition, large or complex roofs often necessitate extra resources,
such as drones and more labor,
for thorough analysis.
2
Permit Data
Utilizing permit data to determine roof age often yields incomplete and low-quality results.
This data is not available across most municipalities and frequently lacks accuracy.
Permits could be incorrectly filed, entirely absent, or associated with the wrong zip codes.
Moreover, despite the filing of permits, actual repairs might not have been executed, or the permits could inaccurately indicate a total roof replacement when only a section was repaired.
3
Time To Check How Roof Age Data Impact Your book
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