Market Insights

The sector's gross written premiums have been growing by 20%-30% annually since 2020.

State Farm currently holds around 8.7% of all home insurance policies in California.

Eight property and casualty insurers have recently been approved to enter the Florida market.

AI risk assessments may offer more advantages because they give insureds the tools and information necessary to monitor and improve their properties.

Much like flooding, earthquakes are not typically covered by a standard home insurance policy.

Most auto and homeowners insurers are using AI tools in their marketing efforts to reach new policyholders.

Next-generation wildfire data and risk models allow insurers to pinpoint localized wildfire risk and identify mitigation strategies to lower the propensity for loss.

More than 30% of homeowners with internet say they would switch insurers to get smart home devices for safety and security.