New research from Intelligent AI and Alchemy Crew Ventures reveals the true scale of the commercial property risk data gap — and what it’s costing the industry.

Drawing on 30+ insurer annual reports, 20 structured interviews with senior insurance executives, and extensive secondary research, this white paper establishes that 90% of US commercial buildings and 93% of UK properties are being underwritten on materially incomplete risk data. The consequence: consecutive net underwriting losses exceeding $20 billion, volatile loss ratios, and a widening gap between asserted and actual risk profiles.

The paper charts a clear path forward: API-delivered, building-level risk intelligence embedded in existing underwriting workflows, with full provenance, explainability, and audit trails.

Produced in partnership with Sabine VanderLinden and Alchemy Crew.

“If I had to put one sentence on a board slide about the risk data problem, it would be: We are making billion-dollar portfolio decisions on data that wouldn’t pass a first-year audit.” — CUO, global carrier