Structure characteristics help identify exposure risk of properties


In a presentation at the Intelligent InsurTECH Europe 2018 conference in London on October 15, Todd Rissel, chief executive officer of e2Value, described how filtering characteristics through the e2Value process can help insurers more accurately identify the exposure risk of properties to losses and better align the premium with the risk.

An accurate replacement cost for structures is still essential in the rating process. The value is separate from the structure characteristics that affect how it scores for major perils. “About 3 percent of written premium represents about 40 points of insurers’ loss ratio,” Rissel said. “The hard part is to find them so you can get the right price for the exposure,” he added.

To read more about the presentation, go to AI tool adds cat risk information to property premium calculation.

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