Porch Group, a company focused on homeowners insurance, announced that its Home Factors property intelligence platform has completed testing with multiple new insurance carriers. The analysis demonstrated consistent results, generating a return on investment (ROI) greater than 20x across each carrier.
The Home Factors platform provided insights to over 88% of the policy data held by the participating carriers. The company anticipates expanding its available property attributes to nearly 100 in the coming months, aiming to offer a comprehensive view of close to 90% of homes across the United States.
The analysis identified segments with loss ratios 23% to 50% higher than average, which were correlated with specific property attributes such as signs of water intrusion, electrical panel size, and indicators of needed electrical repairs. These findings suggest opportunities for insurers to enhance pricing and underwriting accuracy, reduce exposure to high-risk properties, and offer more competitive rates to low-risk segments.
Matt Ehrlichman, Founder and CEO of Porch Group, stated, “These results confirm the power of unique property condition data in driving smarter, more profitable decisions. Home Factors continues to prove its value in carrier after carrier, showing that this level of property intelligence is the missing link for more accurate underwriting and pricing.”
Unlike traditional datasets, Home Factors provides detailed property condition insights, including information on pipe type, window condition, signs of water intrusion, and roof material and condition. This data aims to empower insurers to refine pricing, mitigate losses, and strengthen retention strategies.
Michelle Taves, VP and Group GM, Data and Marketing at Porch Group, commented, “This level of insight gives insurers a real competitive advantage. We are seeing Home Factors consistently demonstrate material impact and value across multiple carriers, allowing these carriers to have differentiation in the market.”
Porch Group, Inc. operates as a homeowners insurance provider, utilizing vertical software solutions in various home-related industries, offering services for homebuyers, and leveraging unique data for underwriting advantages and enhanced policyholder protection.
