VeracityID, Inc.

The massive increase in Personal Lines insurance rates is driving consumer shopping behavior higher and higher. What do carriers need to do to win during this "Churn Crisis"? We have solutions.

Progressive continues to humiliate the rest of the Auto Insurance industry. What they are doing is both obvious and obviously hard to replicate. But the problem is that very few appear to even be trying. The question is why?

Carriers spend a lot on data and data science yet most of them have very few ways to operationalize the insights that they have. The key to successful risk selection innovation is translating the data into specific solutions that eliminate the many different risk, cost and satisfaction issues that present during the few minutes of an insurance transaction.

Yes, we know that hurricanes are a huge risk to homes near the coast. The question is what can carriers do to better manage the risk? We believe that better policyholder documentation before the disaster is the key. And the key to that is a smartphone app that enlists the policyholder in documenting his property. We call it idFetch https://lnkd.in/gqedeSur

Pre-Loss Documentation Makes Catastrophes Less Catastrophic. The average person takes more than 2000 smartphone pictures a year. Carriers should leverage this expertise to eliminate the catastrophe claim 'fire drill'.

Carrier Management reported that an estimated 33.7 million US homes are at risk from Hurricane damage. Our reaction on X was: "Yes, we know that hurricanes are a huge risk to homes near the coast. The question is what can carriers do to better manage the risk?" We believe that better customer/policyholder property images/documentation done before a disaster is the critical to reducing claims administration costs, eliminating fraud, reducing conflict and legal costs and ultimately improving policyholder satisfaction. We have shown that our idFetch user image and document capture solution delivers great results in Auto. Now it's Homeowners' turn

Insurers need better tools to document risks before catastrophe strikes. Right now is the time to prepare for the Tropical Storm season.

The P&C personal lines insurance business has gone through a catastrophic period of losses and rating downgrades. This happens regularly - although this was a particularly rough cycle. What are carriers doing to moderate the boom-bust cycle? The way Progressive does.

When preparing for hurricane season carriers must invest in understanding AND documenting the risks they cover.

A musty smell filled the air as I entered the home. My distressed client led me to the kitchen, claiming a burst water line had caused extensive damage. Yet, something felt off. Water hadn’t simply sprayed from under the sink – it had seeped up the walls and baseboards, discoloring paint and weakening the drywall – it was brittle to the touch, this was a much older issue.....