|
VYRD Launches Homeowners Insurance in Florida
Powered by Verisk Data |
Article Courtesy of Fintech Finance
Published
August 30, 2022
VYRD, a new homeowners insurer, is transforming the
experience of buying insurance in the challenging Florida market by
making underwriting decisions faster and easier with reliable data from
Verisk (Nasdaq: VRSK), a leading global data analytics provider.
|
Using Verisk’s LightSpeed® for Homeowners
platform, VYRD is leveraging granular data to more
accurately assess the risk profiles of coastal properties.
Within LightSpeed, VYRD is integrating Verisk’s
location-based peril information, reconstruction cost
estimates, roof data, aerial imagery, building permit data
and homeowner insights to support faster, more reliable
initial quotes. VYRD is also employing loss history
information from Verisk to help complete the underwriting
process.
Led by an experienced team with a singular focus on meeting
Florida’s unique challenges, VYRD is setting its initial
focus on those customers who are challenged with finding
coverage for their home. Frequent catastrophe losses and a
volatile legal environment, especially surrounding roof
claims, have contributed to creating a difficult market for
homeowners, agents and insurers in Florida—one that VYRD
seeks to address with new approaches.
|
|
|
“Verisk provides the cutting-edge, InsurTech
solutions we need to maintain our policyholder-first mentality as we aim
to set the new standard in home protection in an increasingly complex
and challenging market,” said David Howard, VYRD’s chief executive
officer. “We’re using Verisk tools to prefill applications as far as
possible with the best data in the business, so we can give customers a
better purchase experience that earns their trust and loyalty.”
“VYRD came to us focused on digital transformation that would drive a
better customer experience and support a successful business model for
the increasingly complex Florida market,” said Doug Caccese, president
of risk assessment, underwriting solutions at Verisk. “VYRD’s
experienced and knowledgeable team knew where to turn for advanced
technology, robust data and analytics and deep insurance expertise.”
|
