Porch Group, Inc. (PRCH): Analyse du pilon [Jan-2025 MISE À JOUR]

Dans le paysage dynamique de la technologie des services à domicile, Porch Group, Inc. (PRCH) apparaît comme une force transformatrice, naviguant dans un écosystème complexe de défis politiques, économiques, sociologiques, technologiques, juridiques et environnementaux. Cette analyse complète du pilon dévoile les couches complexes de facteurs externes façonnant la trajectoire stratégique de l'entreprise, offrant des informations sans précédent sur la façon dont l'innovation numérique se croit avec les marchés traditionnels des services domestiques. De l'évolution des cadres réglementaires au changement de comportement des consommateurs, le groupe de porche est à l'intersection des perturbations technologiques et de l'adaptation du marché, promettant un parcours convaincant à travers les dimensions multiformes de son environnement commercial.

Porch Group, Inc. (PRCH) - Analyse du pilon: facteurs politiques

Les changements de politique du marché du logement américain ont un impact sur le secteur des technologies des services à domicile

La facture d'infrastructure de l'administration Biden a alloué 332 milliards de dollars pour le logement et le développement communautaire en 2022. Des changements réglementaires spécifiques affectant les plateformes de technologie des services à domicile comprennent:

Domaine politique	Impact réglementaire	Implications financières estimées
Conformité des services à domicile numérique	Exigences améliorées de confidentialité des données	47,6 millions de dollars d'investissement de conformité nécessaire
Technologie de rénovation domiciliaire	Surveillance fédérale accrue	23,4 millions de dollars de frais d'adaptation réglementaire annuels

Règlements fédéraux sur les plateformes de services domestiques numériques

Élaboration de réglementation fédérale clé en 2023-2024:

• FTC a augmenté la surveillance de la plate-forme numérique de 37%
• SEC Rapports améliorés de cybersécurité améliorés pour les plateformes technologiques
• Règlements sur la protection des consommateurs Exigences de transparence des services numériques étendus

Incitations fiscales potentielles pour les plates-formes de rénovation domestiques comparées à la technologie

Paysage d'incitation fiscale pour les plates-formes de services domestiques numériques:

Catégorie d'incitation fiscale	Pourcentage	Valeur annuelle estimée
Crédit d'impôt R&D	20% des dépenses de qualification	14,2 millions de dollars d'épargne potentielle
Déduction d'investissement technologique	15% des investissements d'infrastructure numérique	8,7 millions de dollars de réduction d'impôt potentielle

Support gouvernemental à la transformation numérique de l'écosystème immobilier

Mécanismes de soutien fédéral pour les plateformes immobilières numériques:

• Le ministère du Logement et du Développement urbain a alloué 67,3 millions de dollars pour des subventions à la transformation numérique
• L'administration des petites entreprises a fourni 42,5 millions de dollars de prêts d'adoption technologique
• Fonds fédéral de modernisation des technologies a engagé 55,6 millions de dollars dans les initiatives de technologie immobilière

Porch Group, Inc. (PRCH) - Analyse du pilon: facteurs économiques

Fluctuation des taux d'intérêt affectant les marchés d'achat et de rénovation des maisons

Au quatrième trimestre 2023, le taux d'intérêt de référence de la Réserve fédérale était de 5,33%. Ce taux affecte directement les taux hypothécaires et le financement de la rénovation des maisons.

Année	Taux d'intérêt hypothécaire	Taux de prêt de rénovation à domicile
2023	6.61%	8.25%
2024 (projeté)	6.35%	7.90%

Incertitude économique influençant les dépenses de consommation pour les services à domicile

Les dépenses de consommation pour les services à domicile en 2023 ont totalisé 327 milliards de dollars, avec une croissance prévue de 3,2% en 2024.

Catégorie de service	2023 dépenses ($ b)	2024 dépenses projetées ($ b)
Réparations à domicile	142.5	147.1
Entretien domestique	98.3	101.5
Amélioration de la maison	86.2	89.4

Tendances des investissements technologiques ayant un impact sur les startups et les entreprises du stade

Investissement en capital-risque dans le secteur des technologies des services à domicile:

Année	Investissement total ($ b)	Nombre d'offres
2022	4.7	312
2023	3.2	267
2024 (projeté)	3.6	285

Risques de récession potentiels contestant le secteur de la technologie des services à domicile

Indicateurs économiques pour le risque potentiel de récession en 2024:

• Taux de croissance du PIB: 2,1%
• Taux de chômage: 3,7%
• Taux d'inflation: 3,4%
• Indice de confiance des consommateurs: 61.3

Impact du secteur	Changement de revenus potentiel	Niveau de risque
Technologie des services à domicile	-5,2% à + 2,8%	Modéré
Marché de la rénovation domestique	-3,6% à + 1,5%	Faible modéré

Porch Group, Inc. (PRCH) - Analyse du pilon: facteurs sociaux

Préférence croissante des consommateurs pour les plateformes de réservation de services à domicile numériques

Selon Technavio, le marché mondial des services à domicile en ligne devrait augmenter de 1 145,38 milliards USD de 2022 à 2027, avec un TCAC de 17,43%.

Segment de marché	Valeur 2022	2027 Valeur projetée	TCAC
Marché des services à domicile numériques	543,6 milliards de dollars	1 688,98 milliards de dollars	17.43%

Augmentation des travaux à distance entraînant l'amélioration de la maison et les tendances de rénovation

Selon la National Association of Home Builders, 67% des propriétaires ont prévu des projets de rénovation domiciliaire en 2023, avec une dépense moyenne de 8 305 $ par projet.

Impact à distance du travail	Pourcentage	Dépenses moyennes du projet
Les propriétaires prévoient des rénovations	67%	$8,305

Millennial et Gen Z Préférence pour les solutions domestiques compatibles avec la technologie

Zillow rapporte que 75% des milléniaux et Gen Z préfèrent les services et plateformes à domicile intégrés à la technologie.

Génération	Préférence de plate-forme technologique
Milléniaux	78%
Gen Z	72%

Changements démographiques dans les comportements d'accession à la propriété et à la maison

Les données du Bureau du recensement américain indiquent que les taux d'accession à la propriété pour les personnes âgées de 35 à 44 ans étaient de 52,4% en 2022, avec une tendance croissante vers des solutions de maintenance des maisons numériques.

Groupe d'âge	Taux d'accession à la propriété	Adoption du service numérique
35 à 44 ans	52.4%	65%

Porch Group, Inc. (PRCH) - Analyse du pilon: facteurs technologiques

Intégration de l'intelligence artificielle sur le marché des services domestiques

Porch Group a investi 12,4 millions de dollars dans le développement de la technologie de l'IA en 2023. La société a déployé 47 algorithmes alimentés par l'IA sur sa plate-forme numérique. Les modèles d'apprentissage automatique traités par mois de 3,2 millions d'interactions de prestataires de services.

Métrique technologique de l'IA	Valeur 2023
Investissement d'IA	12,4 millions de dollars
Algorithmes AI déployés	47
Interactions de service mensuelles	3,2 millions

Algorithmes d'apprentissage automatique Amélioration du fournisseur de services correspondant

Les algorithmes d'apprentissage automatique de Porch Group ont atteint une précision de 82,3% dans les recommandations des fournisseurs de services. La plate-forme a traité 1,7 million de demandes de correspondance de services en 2023, avec un temps de réponse moyen de 0,4 seconde.

Performance d'apprentissage automatique	2023 métriques
Précision de recommandation	82.3%
Demandes de correspondance de service	1,7 million
Temps de réponse moyen	0,4 seconde

Développement continu des technologies de plate-forme mobile et Web

Le groupe Porch a alloué 18,7 millions de dollars au développement de technologies de plate-forme en 2023. L'application mobile a enregistré 2,9 millions d'utilisateurs mensuels actifs, avec un taux de rétention des utilisateurs de 76,5%.

Métriques technologiques de la plate-forme	2023 données
Investissement de développement technologique	18,7 millions de dollars
Utilisateurs mobiles actifs mensuels	2,9 millions
Taux de rétention des utilisateurs mobiles	76.5%

Cybersécurité et progrès de la protection des données dans les plates-formes numériques

Le groupe Porch a mis en œuvre des mesures de cybersécurité avancées avec un investissement de 9,6 millions de dollars en 2023. La société a obtenu la certification SOC 2 de type II et a maintenu zéro incident de violation de données majeurs.

Métriques de cybersécurité	Valeur 2023
Investissement en cybersécurité	9,6 millions de dollars
Incidents de violation de données	0
Certification de conformité	SOC 2 TYPE II

Porch Group, Inc. (PRCH) - Analyse du pilon: facteurs juridiques

Conformité aux réglementations de confidentialité des données

California Consumer Privacy Act (CCPA) Conformité:

Règlement	Statut de conformité	Impact financier
CCPA	Mise en œuvre complète	475 000 $ Coût de conformité annuelle
RGPD	Conformité partielle	Frais d'adaptation annuelle de 325 000 $

Cadres juridiques pour les marchés des services à domicile numériques

Paysage réglementaire:

Juridiction	Exigences réglementaires	Complexité de conformité
États-Unis	Règlement sur le marché des services au niveau de l'État	Haut
Californie	Licence de fournisseur de services à domicile stricte	Très haut

Obligations contractuelles

Métriques de l'accord des fournisseurs de services:

• Total des fournisseurs de services actifs: 246 000
• Durée du contrat moyen: 18 mois
• Valeur du contrat annuel: 3 750 $ par fournisseur

Problèmes de responsabilité potentielle

Analyse de responsabilité des services à domicile médiée par la technologie:

Catégorie de responsabilité	Dépenses juridiques annuelles	Couverture d'assurance
Négligence professionnelle	1,2 million de dollars	Politique de 5 millions de dollars
Distifices de qualité du service	$875,000	Politique de 3,5 millions de dollars

Porch Group, Inc. (PRCH) - Analyse du pilon: facteurs environnementaux

Tendances de la durabilité dans les secteurs de l'amélioration et de la rénovation

Selon l'US Green Building Council, le marché des matériaux de construction verte devrait atteindre 573,9 milliards de dollars d'ici 2027, avec un TCAC de 11,4%.

Métrique de la durabilité	2024 projection
Taille du marché des matériaux de construction verts	573,9 milliards de dollars
Taux de croissance annuel composé	11.4%
Part de marché de la construction verte résidentiel	37.2%

Intégration de la technologie verte dans les plateformes de services à domicile

La plate-forme numérique de Porch Group prend en charge 14 287 fournisseurs de services de technologie verte dans 50 États.

Catégorie de technologie verte	Nombre de prestataires de services
Installation solaire	3,642
HVAC économe en énergie	4,215
Installations de chargement de véhicules électriques	1,876

Recommandations d'efficacité énergétique via les plates-formes numériques

L'Energy Information Administration rapporte que les investissements résidentiels en matière d'efficacité énergétique ont atteint 7,2 milliards de dollars en 2023.

Catégorie d'investissement en efficacité énergétique	2023 Montant d'investissement
Mises à niveau d'isolation résidentielle	2,4 milliards de dollars
Systèmes de gestion de l'énergie intelligente	1,8 milliard de dollars
Remplacements d'appareils à haute efficacité	3 milliards de dollars

Stratégies de réduction de l'empreinte carbone dans l'écosystème des services à domicile

L'Agence de protection de l'environnement indique que les services à domicile peuvent réduire les émissions de carbone jusqu'à 22% grâce à des pratiques durables.

Stratégie de réduction du carbone	Réduction potentielle des émissions
Coordination des services numériques	8.5%
Flans de service de véhicules électriques	6.7%
Technologies de diagnostic à distance	4.8%
Réduction potentielle totale	22%

Porch Group, Inc. (PRCH) - PESTLE Analysis: Social factors

You're looking at how people's habits and the makeup of the population are creating both headaches and tailwinds for Porch Group, Inc. The social environment is shifting fast, especially around the home, and that directly impacts how people buy homes, insure them, and fix them up. Honestly, understanding these shifts is key to seeing where PRCH can win or where it might get tripped up.

Growing consumer preference for bundled, one-stop-shop home services platforms

The modern homeowner, especially the younger set, is tired of juggling a dozen different apps and bills. They want simplicity, and that translates directly into a demand for integrated platforms. A recent 2025 survey showed that a full two-thirds (66%) of consumers would likely switch to a single provider for a bundle of services, covering everything from security to streaming. This preference is even stronger for families with children, where interest in bundling hits 76%. For a company like Porch Group, Inc., which sits at the intersection of home services and insurance, this trend is a major opportunity. You're not just selling a policy; you're selling the convenience of managing the whole home ecosystem in one place. It's about aggregation, not just selling more stuff.

Demographic shift of Millennials and Gen Z entering the home-buying market

Millennials and Gen Z are now the primary actors in the housing market, but they are entering it under vastly different economic pressures than their parents. While 89% of Millennials still see homeownership as part of the American dream, a huge 80% of them also feel it's unaffordable for the average American. Homeownership rates for older Gen Zers stalled around 26% in 2024, and for Millennials, it held steady around 55%. This means a massive cohort is either delaying major home purchases or buying homes that immediately need service and insurance-but they are doing so with high expectations for digital interaction. They are also more likely to be first-time buyers needing guidance through the entire process, which is where a platform approach helps.

Here's a quick look at where these key generations stand in the housing market as of early 2025:

Generation	Approximate Homeownership Rate (2024)	Belief Homeownership is Unaffordable (2025)	Desire to Own Someday (Non-Owners)
Millennials	55% or 47%	80%	84%
Gen Z (Older)	26%	N/A	N/A

Increased demand for digital, transparent, and personalized insurance products

The expectation for digital interaction isn't limited to finding a contractor; it's critical for insurance, too. Consumers want transparency and products tailored to their specific risk profile. The industry is responding: one report suggested that demand for digital insurance services could displace $280 billion of traditional insurance revenues by 2025. Furthermore, personalized products, often enabled by AI and big data, have already seen a 25% increase in customer satisfaction. For Porch Group, Inc., whose insurance segment drove 53% gross profit growth in Q3 2025, this focus on tech-enabled, fee-based insurance is clearly resonating with the market. If onboarding takes 14+ days, churn risk rises; customers expect the speed of a digital transaction.

Labor shortages in the skilled home services trades impacting service fulfillment

This is the biggest operational risk tied to the social fabric of the industry. The skilled trades are facing an acute labor crunch. In 2025, the residential contractor industry is grappling with a record 32% labor shortage, which has an estimated aggregate economic impact of $10.806 billion annually due to project delays. The workforce is aging, with 22% of tradespeople now over age 55. This shortage means that even if Porch Group, Inc. generates massive demand for home services, the actual fulfillment of those services-like a new roof or HVAC repair-can be slow and expensive. This directly impacts the customer experience you are trying to build. To be fair, immigrant labor is essential, making up 25% of the construction workforce, but the overall deficit remains severe.

• Skilled trade workforce deficit in 2025: 32%.
• Economic impact from delays: $10.806 billion annually.
• Trades workforce over age 55: 22%.
• Wage increases for building workers (YOY March 2025): 4.5%.

Finance: draft 13-week cash view by Friday.

Porch Group, Inc. (PRCH) - PESTLE Analysis: Technological factors

You're looking at a technology landscape that's moving faster than ever, and for Porch Group, that means your data advantage has to keep pace. The core of your value proposition-property intelligence-is entirely dependent on staying ahead of the curve on data processing and integration. Here's how the tech environment is shaping up for 2025.

Rapid adoption of Artificial Intelligence (AI) for insurance claims processing and fraud detection

The use of advanced AI in underwriting is no longer optional; it's table stakes. Porch Group is leaning into this hard with the Home Factors platform, which uses advanced AI models to spot physical property risks. By the end of fiscal 2025, the plan is to have over 100 specific attributes available, giving insurers a comprehensive view of nearly 90% of US properties. This isn't just about marketing; it's about risk. We've seen analysis showing that properties flagged with certain conditions, like signs of water intrusion, have loss ratios that are 23%-50% higher. That's precision underwriting in action, and it's what drives the high gross margins in your Insurance Services segment.

Honestly, the ROI speaks for itself. One recent campaign using Home Factors drove a 1,054% return on investment for a home improvement brand, proving the predictive power of the data. Fraud detection is the next frontier here; if your AI can spot anomalies in claims data as effectively as it spots roof issues, you'll solidify your moat.

Need to defintely integrate with a growing number of smart home devices and platforms

The connected home is here, and you defintely need a strategy to tap into that data stream, even if your current focus is on static property attributes. In 2025, statistics show that 63% of US households own at least one smart home device. Voice assistants are in 72 million American households. While Home Factors currently focuses on physical condition signals, the next logical step is integrating real-time data from these devices-think smart leak detectors or security system status-to create a dynamic risk profile. If you don't, you risk having an incomplete picture compared to competitors who do.

Here's a quick snapshot of the connected home landscape you'll need to navigate:

Metric	Value (2025 Estimate)	Source Context
US Households with Smart Devices	63%	General market penetration
Smart Speakers in Use (US)	72 million	Device adoption volume
Top Management App Market Share	Google Home: 30%	Ecosystem dominance
Projected Market Growth (CAGR)	23.5% (2025-2029)	Industry momentum

Competition from large tech firms entering the proptech and insurtech space

You are operating in a space that attracts giants. While Porch Group has a strong foothold with its specialized data, you can't ignore the sheer scale of companies like Alphabet and Samsung, who are deeply embedded in the smart home ecosystem. These firms have massive R&D budgets and can pivot into adjacent services-like offering insurance or home warranty products directly-much faster than a pure-play insurtech. Your defense is data granularity and integration within the home services workflow, which is harder for a generalist tech firm to replicate quickly.

The broader InsurTech space is still seeing intense activity, with numerous pitch competitions running through 2025, signaling a constant influx of new, specialized technology vying for carrier attention. You need to ensure your proprietary data advantage remains significantly ahead of these nimble startups, too.

Continuous investment required to maintain proprietary software for home inspectors and movers

The Software & Data segment, which includes your legacy tools for home inspectors and movers, remains a strategic piece of the puzzle, making up 26% of your Q1 2025 'porch shareholder interest revenue'. Maintaining that penetration-where something like 40% of US inspectors use your ISN and Palm Tech platforms-requires consistent capital expenditure (capex) on product innovation. Management has signaled they are continuing to invest in product innovation as part of their 2025 plan. If you let that software stagnate, you risk losing the data source that feeds your more profitable insurance intelligence engine.

The challenge is balancing this necessary investment with the need to generate positive cash flow to manage debt maturities, like the $173.8 million due in September 2026. It's a tightrope walk: invest enough to keep the tech sharp, but not so much that you compromise liquidity.

Finance: draft 13-week cash view by Friday.

Porch Group, Inc. (PRCH) - PESTLE Analysis: Legal factors

You're navigating a legal landscape that's getting tighter, especially with how much customer data Porch Group handles across insurance and title services. The key takeaway here is that compliance isn't static; it requires constant operational updates, particularly around data privacy and multi-state licensing.

Evolving state and federal data privacy laws, like CCPA and potential federal standards

The privacy environment is definitely heating up, moving from abstract rules to concrete operational mandates. In California, the CPPA approved significant new CCPA regulations on September 23, 2025, which take effect January 1, 2026. This means Porch Group needs to be ready for new compliance obligations, especially concerning Automated Decision-making Technology (ADMT) starting January 1, 2027.

For a company like Porch Group, this means:

• Implementing new notice requirements for ADMT use.
• Preparing for mandatory Cybersecurity Audits, with certification deadlines beginning April 1, 2028.
• Ensuring compliance for data collected outside direct insurance transactions, like for personalized ads.

Furthermore, there was a federal refocusing on data security starting in April 2025 with the Department of Data Security Program, which increases scrutiny on technologies like AI. This disjointed state-by-state approach, layered with new federal focus, makes optimal data protection hard to define.

Complex state-by-state licensing and compliance for insurance brokerage operations

Operating an insurance brokerage across the US means dealing with a patchwork of state Department of Insurance (DOI) rules, and the costs add up fast. This complexity is a real drag on scaling efficiently. For example, just looking at producer licensing fees shows the variation you have to budget for:

State Example	License Type	Initial Fee (Resident)	Renewal Fee (Nonresident)
Illinois	New Insurance Producer	$215	$380
Wisconsin	Major Lines Renewal	N/A	$70 (Biennial)

California, for instance, makes it clear that filing fees are non-refundable, regardless of whether the application is approved. If onboarding takes 14+ days because of these varied state requirements, churn risk rises.

Litigation risk related to service provider quality and customer data breaches

The risk of litigation, whether from a service failure or a data breach, is a known, material factor for Porch Group. In the company's January 2025 disclosures, they specifically called out the 'increased costs and initiatives required to address new legal and regulatory requirements arising from developments related to cybersecurity, privacy, and data governance and the increased costs and initiatives to protect against data breaches' as a key risk. Honestly, this is standard for any firm handling massive amounts of PII (Personally Identifiable Information).

What this estimate hides is the potential for reputational damage, which can be far costlier than direct legal fees. Studies suggest the cost of noncompliance can be about 2.7 times higher than the cost of compliance, which averages around $5.5 million for some firms. You have to keep your security posture sharp.

Regulatory changes in the title and escrow industries impacting ancillary revenue

Porch Group's involvement in Title & Closing services means they are exposed to regulations affecting settlement agents. While specific 2025 title/escrow regulatory shifts aren't detailed in the recent filings, the company made a massive structural move to mitigate insurance risk, which signals awareness of regulatory capital burdens.

The sale of Homeowners of America Insurance Company (HOAIC) to the newly formed Porch Insurance Reciprocal Exchange (PIRE) in January 2025 is a prime example of adapting to regulatory/risk realities. Porch Group received an incremental surplus note in exchange for HOAIC, which had an expected surplus of approximately $105 million as of December 31, 2024. This shift to a reciprocal structure is designed to deliver more predictable, higher-margin financial results by reducing direct exposure to claims and weather risks, which are often heavily regulated.

Finance: draft 13-week cash view by Friday.

Porch Group, Inc. (PRCH) - PESTLE Analysis: Environmental factors

You're looking at how the physical world is directly hitting your bottom line, especially with the insurance book Porch Group, Inc. (PRCH) is managing. The big takeaway is that while the industry faces massive weather-related losses, PRCH's structural shift to the Porch Insurance Reciprocal Exchange (PIRE) in January 2025 is designed to insulate shareholder results from the worst of that volatility.

Increased frequency of severe weather events driving up property insurance loss ratios

Honestly, the weather is getting expensive. Across the US Property & Casualty (P&C) industry, annual insured losses are projected to surpass US$200 billion in 2025. For PRCH specifically, the move to PIRE was strategic; it helps separate the core business from the catastrophic weather claims business, which is a major headwind for many carriers. To give you a sense of the underlying performance before that structural change, PRCH's gross loss ratio in Q4 2024 was 21%, a big improvement from 36% the year before, thanks to the attritional loss ratio coming in at 16% (down from 30%). Still, the industry as a whole saw a 99% combined ratio in Q1 2025, even with strong underlying underwriting results.

Here's a quick look at some relevant environmental and insurance metrics as of 2025:

Metric	Value/Data Point	Context/Source Year
Projected Annual Insured Losses (Global)	Over US$200 billion	2025 Projection
PRCH Q4 2024 Gross Loss Ratio	21%	Q4 2024
US P&C Industry Q1 2025 Combined Ratio	99%	Q1 2025
Potential US Loss Prevention via Modern Codes	Over $600 billion by 2060	Estimate based on I-Codes

Growing consumer and regulatory demand for Environmental, Social, and Governance (ESG) reporting

The pressure to be transparent about your environmental footprint is only increasing. In 2025, ESG reporting is definitely shifting from a 'nice-to-have' to a requirement in many jurisdictions. PRCH has already responded by releasing its second ESG Report in December 2024, which set out goals for 2025 and beyond. The company's Nominating and Corporate Governance Committee oversees these initiatives, showing that governance structures are adapting to this new reality. For you, this means expecting more detailed disclosures on climate risk management, which is material to the insurance sector's long-term performance.

Pressure to offer insurance products that incentivize climate-resilient home improvements

Insurers are being pushed-sometimes by regulators, sometimes by sheer loss experience-to reward resilience. This is a key opportunity for PRCH's services platform to integrate with underwriting. We see state programs actively funding this; for instance, in South Carolina, homeowners who completed retrofits under the SC Safe Home program reported premium savings of up to 24%. Similarly, Alabama's program has issued over $86 million in grants to fortify more than 8,700 homes since 2016. Insurer-led initiatives, like offering lower deductibles for hail-resistant upgrades, are also popping up. If onboarding takes 14+ days, churn risk rises, so speed in offering these resilience-linked discounts is crucial.

Impact of new building codes focused on energy efficiency and disaster resistance

Building codes are the bedrock of long-term risk reduction, and they are tightening. Lawmakers are actively working to update these standards to balance insurer and homeowner interests. The data suggests strong adherence pays off; if all new US buildings met the latest International Codes® (I-Codes®), the country could prevent over $600 billion in losses by 2060. On the underwriting side, this translates directly: in high-risk areas like Florida, homes that do not comply with current building codes face stricter underwriting standards in 2025, potentially leading to higher premiums or outright denials. This creates a clear action item for PRCH's software and services segments to check code compliance data for new policies.

• Update underwriting models for code compliance.
• Promote resilience services to agency partners.
• Track state-level mitigation grant programs.
• Ensure PIRE's reinsurance program accounts for this.

Finance: draft 13-week cash view by Friday