LexisNexis® Risk Solutions, a leading data, analytics and technology provider, has announced the launch of its Home Claims Insights dashboard within the LexisNexis® Insurance Market Insights platform.
The launch comes in response to growing challenges in the U.S. property insurance market, including rising claim severities and an increased frequency of catastrophic events, according to FF News.
Between 2021 and year-end 2024, claim severities rose by 33%, while catastrophic claims accounted for 42% of all property claims amid inflationary pressures and higher repair costs.
LexisNexis Risk Solutions provides data, analytics and technology that help insurance carriers, financial institutions and other organisations mitigate risk, optimise operations, and make informed decisions.
Its Insurance Market Insights platform delivers actionable intelligence for benchmarking performance and analysing market trends across the property and casualty insurance sector.
The Home Claims Insights dashboard allows U.S. insurance carriers to benchmark key metrics such as current and historic claims severity, cycle times, and geographic trends.
By integrating both customer-specific and industry-wide claims data, insurers can drill down to specific risk segments by major peril, state, metropolitan statistical area, policy type, building age, square footage and catastrophe indicators.
This enables carriers to determine whether operational challenges are isolated or industry-wide.
The product provides detailed analysis of both catastrophe (CAT) and non-catastrophe (non-CAT) claims activity, an area where data has traditionally been difficult to access.
By examining trends by weather peril, insurers gain insights into the severity and impact of catastrophic events, enabling better planning and resource allocation. Market-wide insights are delivered up to 60–80% faster than standard industry reporting.
In addition, the dashboard tracks emerging trends in property insurance.
Ryan Hupp, director, product management, LexisNexis Risk Solutions said, “While property claims are becoming more complex and costly as natural disasters grow in frequency and intensity, insurers want to help ensure a high level of customer claims satisfaction and prioritize efforts to maintain lifetime value. Our Home Claims Insights report is designed to help insurance executives not only benchmark their organization’s performance, but also pinpoint opportunities for operational improvement, which can ultimately result in better experiences for policyholders.”
George Hosfield, vice president and general manager, home insurance, LexisNexis Risk Solutions said, “We are thrilled to continually enhance our Insurance Market Insights platform to provide these home insurance insights to help better prepare insurers for future catastrophic events. These insights are extremely important to U.S. insurers when making executive decisions on the direction of their business. LexisNexis Risk Solutions analysis shows that in first quarter of 2025 alone, CAT losses were up 6% compared to Q1 2024, while non-CAT claim occurrences were down 5.6%. Our analysis also shows severity rose 12.8% nationwide, with metro areas such as New York (+36%), Boston (+26%), and Washington, D.C. (+23%) experiencing the steepest increases. We also see in our analysis that California wildfires in January 2025 resulted in more than 18,500 homeowners fire claims, with an average paid severity of $540,000 in paid losses to-date and contributing to a 260% spike in national CAT severity for the quarter.”
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