Risk Rating 2.0

Risk Rating 2.0 is an updated way insurers assess the likelihood and potential impact of risks, such as insuring a property or business. It uses a data-driven approach that considers various factors like location, construction, safety features, and past claims to assign a risk score. This helps determine insurance premiums fairly and accurately, reflecting the real level of risk involved. The goal is to be more precise and transparent in how risks are evaluated, leading to better pricing, tailored coverage, and improved understanding for both insurers and customers.