Housing markets

The Personal Lines Insurance Shopping Report suggests consumers are overcoming fears of surveillance to reduce premiums.

Freddie Mac researchers led by Ajita Atreya found that homes directly exposed to projected sea-level rise command no discount over those that aren’t.

Keeping track of frequent changes to homes has become a complex issue for many insurers. With limited resources and rising customer expectations, many insurers are moving beyond traditional forms of customer outreach – emails, phone calls, and on-site inspections— to obtain the latest underwriting data about the properties in their portfolio.

Despite an influx of potential rental insurance customers, carriers must innovate to cut through the noise and connect with their best prospects on a personal level to ultimately turn them into a client. With so much competition, simply reaching out at the right time may not be enough. Insurers need to understand these consumers on a deeper level.

Armadillo was founded this year by two insurance industry executives. Matan Slagter, who was most recently with AIG, and Lansdon Robbins, a serial entrepreneur, recently launched the home warranty solution in 20 markets.

Storm-related reconstruction costs — a large share of which may be concentrated in the New York City area — are estimated to total $1.9 trillion for water damage and $8.5 trillion for wind damage.

The insurer is looking to strengthen its digital presence to meet changing consumer preferences.