Verified property-level data uncovered thousands of properties with zero permitted activity in the months following the hurricane and resulting claims payments
Using its unique Change Detection Insights—which track property changes over time, informing key business decisions and carrier data validation—BuildFax uncovered a significant number of property updates, and lack thereof, that enabled AIIG to accurately assess risk across its book of business at scale. Preliminary findings revealed:
- A staggering 50 percent of properties had zero permitted activity in the 10 months following Hurricane Irma.
- 53 percent of permitted activity was related to roof repairs.
- A majority of permits pulled were for repairs between
“BuildFax data provides unprecedented transparency into a carrier’s book of business and pinpoints property-level insights that help identify fraud, mitigate risk and enable meaningful touchpoints with insureds,” said BuildFax COO
Following more than a decade of relative stability for
“From an efficiency perspective, the insights that BuildFax delivered have saved us around 30 percent in additional research time developing our non-renewal strategy,” said
BuildFax, headquartered in