If you said “fire”, you'd be wrong. True, fire is responsible for the largest payouts. But not for the largest number of claims. This honor goes to wind and hail damage. Fire isn't even third in line in the numerical claims stakes – that place goes to water damage and freezing.
Findings like this remind us that good data give us a better handle on our business than gut reaction. The story also reinforces the point that information systems have to serve business processes rather than headline dollar amounts. It might feel wrong, but perhaps your organization is better off investing in systems, processes and people that support the high volume business rather than the rarer, big ticket events. You don't know until you measure. Claims