LexisNexis Risk Solutions, announced the expanded nationwide availability and automated workflow integration of LexisNexis Rooftop, a risk assessment tool for home insurance carriers that uniquely combines aerial imagery with claims insights that measure wear and tear to the roof over time. LexisNexis Rooftop:
Provides a highly predictive risk score from 1-100 that indicates the likelihood of a large weather claim within the next 12 months
Returns a score more than 95% of the time, even if a recent aerial image is not available
Delivers up to 80 actionable attributes including recent weather events and related claims insights along with dozens of imagery insights from Arturo
Is available system-to-system in an automated process through the LexisNexis single point of entry
Has received early approvals from some state regulators.
The LexisNexis Rooftop model shows up to a 20x lift in loss cost relativity and an 18x lift in claims rate relativity between the highest-risk properties and lowest-risk properties. Together with the accompanying data attributes, this can act as a powerful tool for insurers for faster, more cost-effective decision making. For insurers, these attributes and scores can help them move from a reactive position to proactively partnering with their homeowners. Adding imagery capabilities to the auto and home claims dataset from LexisNexis Risk Solutions has resulted in a real-time, interactive solution to help segment roof risk.