Why are physical inspections vital to estimating roof life?

Through our work over the last 25 years, Millennium has developed an extensive inspection database with over 12 million property records, which we regularly analyze to identify trends in specific regions, states and local areas for our clients. One area of particular concern to our clients is roofs. You may be interested to know that we find roof issues on 16.9% of the properties we inspect nationwide.

At a regional level, the South has the highest incidence of roof conditions at 22.3%, followed by the Northeast 17.9%, Midwest 15.0% and West 12.3%.  Millennium provides our clients with data analyses on numerous other hazard conditions including ITV and TLA variances, tree hazards, dangerous dog breeds, unfenced pools and trampolines, uneven sidewalks and driveways, and steps and porches without railings, to name just a few.

In addition to analytical data, Millennium Information Services provides insurance carriers with a crucial element in the underwriting process for commercial, farm and residential properties:  a physical inspection report. Our experienced inspectors uncover vital information about an insured premises — information that’s often invisible to the untrained eye and undetectable through aerial imagery, which, in addition to frequently being outdated and incomplete, lacks sufficient visibility of the most common hazards and adverse conditions.

Quality information is essential to successful underwriting. Profitable decisions depend on your ability to get the clearest, most detailed view of both individual properties, broader, regional issues and your complete book of business.

Millennium inspection reports provide detailed documentation on all conditions, risks and hazards observed at the property that may contribute to future loss and claim expenditures, along with a wide array of photographs of the exterior, interior and surrounding premises to convey a true picture of exposure in a property’s current condition. The level of detail we provide enables insurance professionals to make more intelligent underwriting decisions based on comprehensive, up-to-date and accurate property data.

Through our MAPS inspection workflow platform, Millennium gives our clients the ability to mine your own inspection data and conduct analysis on all of the property attributes and characteristics captured in the inspection report.  Which hazard conditions are prevalent in your book of business and where are they found? Which agents are driving these quality-of-business issues? Millennium provides you invaluable data and tools to proactively manage your property business, reduce losses and achieve your growth and profitability objectives.

The bottom line is, when it comes to risk assessment and underwriting, it pays to inspect the uninspected.