Nearmap Launches Portfolio Benchmarking to Give Insurers an Enhanced View of Portfolio Risk and Opportunity

Nearmap, the leading global property intelligence company, today announced the launch of Portfolio Benchmarking, an expansion of the Nearmap Portfolio Intelligence that gives property and casualty (P&C) carriers a trusted, data-backed view of their portfolio relative to the broader market.Sophisticated tools like the Nearmap Portfolio Intelligence offer a pre-built portfolio analysis solution for executives and underwriting leaders to better understand the condition, composition, and performance of their own books. But understanding a portfolio in isolation only tells part of the story. Without a trusted market reference, carriers may not know where their portfolio is outperforming or underperforming market norms, where risk is becoming concentrated, or where opportunities for profitable growth exist."With this data in hand, we can have a more informed conversation about the quality of the agent's book rather than just looking at their loss ratio," said Rob Jacobson, President and CEO of Rockford Mutual Insurance Company.Portfolio Benchmarking adds that missing market context to Portfolio Intelligence by comparing a carrier's insured portfolio with Nearmap U.S. property database using the AI-derived Roof Spotlight Index, a roof condition score trusted by top insurance carriers that includes factors like staining, ponding, missing shingles, and other visual roof damage. With more than 100 million U.S. parcels analyzed, representing approximately 88% of the U.S. population, carriers can compare the quality and composition of their portfolios against relevant market benchmarks and identify meaningful differences earlier."Carriers have always been able to look at their own book. The harder question has been understanding what that book looks like relative to the market," said David Tobias, Chief Product Officer at Nearmap. "Portfolio Benchmarking gives insurers an industry-trusted reference point to see where they may be accumulating below-market-average risk and where they have an opportunity to grow. It turns Portfolio Intelligence into a much more strategic tool for re-underwriting, rating, reinsurance, and growth decisions."Portfolio Intelligence now includes market benchmark data at the state, county, ZIP code, and neighborhood levels, allowing carriers to evaluate their portfolios against relevant local and regional market conditions. Residential and commercial portfolios receive like-for-like comparisons, giving carriers a more meaningful view of portfolio quality and risk distribution.The offering also introduces agency-level benchmarking, allowing carriers to compare agency performance against relevant market averages. This can help identify agencies writing below market norms and give distribution and underwriting teams the data needed to provide targeted support before differences in risk selection affect portfolio performance.By adding trusted, nationwide market evidence, Portfolio Benchmarking enhances Portfolio Intelligence and helps carriers:Identify portfolio risk concentration and pinpoint geographies and segments that are drifting from market norms before adverse selection sets in. Improve reinsurance and rating strategies by showcasing independent market evidence. A super-regional carrier in the Northeast used Nearmap property and portfolio data to negotiate an 8% PML reduction and $7M in annual reinsurance premium savings. Boost agency performance by assessing agency submissions against the local market benchmarks and providing targeted support. Expand into markets with great property conditions, creating opportunities for profitable growth.Together, these capabilities extend Portfolio Intelligence from a view of a carrier's own book into a fully market-contextualized view of risk. This gives underwriting, actuarial, reinsurance, and distribution teams a shared, independent source of truth for decisions that used to rely on internal historical data alone.To learn more, visit here.

Nearmap Launches Portfolio Benchmarking to Give Insurers an Enhanced View of Portfolio Risk and Opportunity

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