Home Claims Insights from LexisNexis Risk Solutions Helps Empower U.S. Property Insurance Executives

LexisNexis^® Risk Solutions, a leading data, analytics and technology provider, today announced the launch of the Home Claims Insights dashboard within the LexisNexis^® Insurance Market Insights platform. These insights help to provide U.S. property insurance carriers with more timely, data-driven analyses to benchmark their claims performance against industry benchmarks. Additionally, they also address catastrophic and non-catastrophic claims challenging profitability for the U.S. property insurance market. Claim severities, for example, are up 33% between 2021 and year-end 2024 and catastrophic claims comprised 42% of all property claims by year-end 2024 amid increasing natural disasters and increased inflation and cost to repair market dynamicsⁱ.

The Home Claims Insights report allows U.S. insurance carriers to benchmark key outcomes, such as current and historic claims severity, cycle time and geographic trends. By integrating both customer-specific and industry-wide contributory claims data into easy-to-use reports, carriers can leverage the data to drill down to specific risk segments by major peril, state, metropolitan statistical area, policy type, building age, square footage and catastrophe indicator. This helps insurers better understand whether a challenge is isolated to their operations or something the home insurance industry is experiencing industry wide.

“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,” said Ryan Hupp, director, product management, LexisNexis Risk Solutions. “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.”

Offering market-wide insights that are delivered up to 60–80% faster than industry standards, the Home Claims Insights dashboard provides more detailed analysis of both catastrophe (CAT) and non-catastrophe (non-CAT) claims activity — an area where data can be difficult for insurance carriers to access. In addition to CAT versus non-CAT trends, these insights also offer detailed analysis by weather peril. By evaluating different perils, insurers can better understand their severity trends and impact of catastrophic claims events.

“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%,” said George Hosfield, vice president and general manager, home insurance, LexisNexis Risk Solutions. “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.”

For more information, visit LexisNexis^® Insurance Market Insights and its Home Claims Insights report dashboard.