Electronics Data to Alert Insurance Carriers of Potential Risks

StrikeCheck Releases Annual Report With 2023 Analyses

CHARLOTTE, N.C., March 27, 2024 /PRNewswire/ -- A quarter of all electrically powered items included in claims that adjusters assigned to insurance services company StrikeCheck were non-damaged at the time of assessment and brought a risk of unnecessary indemnity leakage to insurance carriers nationwide. This is among the claims data and trends revealed in the newly released StrikeCheck 2023 Annual Claims Report.

The report is an initiative by StrikeCheck, part of the Alpine Intel suite of services, that aims to help carriers make more informed decisions on individual claims and their entire book of business. It reflects the results and analyses of assessments for nearly 350 different types of electrically powered items that represented more than 2,100 brands.

"The proliferation of electronics and new product options that have flooded the market in recent years have resulted in additional potential risks and uncertainties for carriers and policyholders alike," said Alpine Intel CEO Damon Stafford. "We are in the unique position to provide actionable data about specific electronic types as well as the perils likely to impact them."

Key Sections of the StrikeCheck 2023 Annual Claims Report Include:

• A 2023 Claims Overview denoting states with the most claims, reported causes of loss by month, repair and replacement cost comparisons for main electronics categories, and equipment most likely to be determined to have sustained damages from high voltage surge, water, or wear and tear
• Dedicated pages for commonly claimed items, including large appliances, consumer electronics, water heaters, and solar power equipment, that outline reported vs. actual cause of loss, repair and replacement cost comparisons, and other data points
• Weather data from lightning verification reports that indicates where and when lightning most often occurred, the average distance lightning was from a loss location, and how often no lightning was present at the time of loss
• Key insights and comparisons from previous years as well as ways to get more information about frequently claimed equipment and perils

The StrikeCheck 2023 Annual Claims Report, which is available for free to insurance professionals, and StrikeCheck's other services are part of Alpine Intel's mission to answer insurance professionals' complex questions using innovation, knowledge, and experience.

About StrikeCheck: StrikeCheck eliminates speculation and guesswork to help clients make better claim settlement decisions, providing streamlined and uncomplicated processes for assessing property insurance claims involving electrically powered equipment and other specialty electrical items. With fact-driven onsite assessments, desktop pricing reviews, and lightning reports, StrikeCheck delivers cost-effective and comprehensive claim solutions.

About Alpine Intel: Alpine Intel is dedicated to innovation across a broad range of property insurance intelligence – helping customers reach peak performance throughout the policy life cycle. Through its operating brands, HVACi, StrikeCheck, National Fire Experts, and Donan, Alpine Intel is respected as the industry leader for its scale and track record of conducting expert, specialized, and accurate investigations nationwide.

Media Contact: Katie Roudabush, CMO for Alpine Intel
375254@email4pr.com 704-235-3043

View original content to download multimedia:https://www.prnewswire.com/news-releases/electronics-data-to-alert-insurance-carriers-of-potential-risks-302101112.html

SOURCE StrikeCheck