Pain Qualified Prospect Feed — Validated with live NAIC and rating data

A Data-Driven Outbound Workflow for Searpent

Using insurance carrier financial filings and rating agency actions to identify P&C insurers with worsening loss ratios—the exact moment when claims fraud prevention technology moves from “nice to have” to board-level priority.

25–50
Qualified prospects per month
21/25
Validation score
Prepared for Searpent — February 2026 | Smartbound AI
Validated Workflow
“The Loss Ratio Signal”

Using NAIC regulatory filings and insurance rating agency actions to identify P&C carriers with deteriorating underwriting performance—specifically in auto and property lines where visual claims fraud is most prevalent and where Searpent's AI delivers the highest ROI.

How It Works

  1. Monitor rating agency press releases for downgrades and negative outlook revisions affecting P&C insurers, filtering for actions citing underwriting losses, claims severity, or combined ratio deterioration.
  2. Pull NAIC quarterly and annual financial data to identify carriers with combined ratios above 105% in auto and property lines—the lines where visual claims fraud has the highest incidence.
  3. Cross-reference affected carriers with commercial auto performance data (Exhibit of Premiums and Losses) to flag the worst performers in the specific line most susceptible to staged accident photo fraud.
  4. Enrich each carrier with claims and SIU leadership contacts (VP Claims, SIU Director, VP Investigations) via LinkedIn and professional databases.
  5. Deliver monthly lead cards with: carrier name, rating action, specific loss figures by line of business, claims/SIU leadership contacts, and a tailored visual fraud angle for outreach.
Data Source
NAIC Filings / Rating Actions
Refresh Rate
Monthly
Monthly Volume
25–50 leads
Validation Score
21/25
Verified Opportunities

Real Lead Cards

These are actual insurance carriers identified from regulatory filings and rating actions in the past 12 months. Each card includes the specific financial pain, the line of business affected, and why visual AI fraud detection addresses their exact problem.

Largest Losses
State Farm Mutual Auto
Bloomington, IL — #1 US P&C insurer by market share
Rating Downgrade
Rating Action
Downgraded from A++ to A+ (November 14, 2025). Five consecutive years of underwriting losses. Four consecutive operating losses.
Financial Pain
$6.1B total underwriting loss in 2024. Auto line alone lost approximately $2.7B. Commercial auto combined ratio: 123.6%.
Lines Affected
Private passenger auto, homeowners. 18.87% market share in private passenger auto—the largest writer in the US.
Fraud Impact
At $6.1B underwriting loss, even a 1% fraud reduction through visual AI represents approximately $61M in savings. Industry estimates place auto claims fraud at 10–20% of total claims.
State Farm's downgrade from the industry's highest rating after five consecutive years of underwriting losses represents an existential pressure point. Their commercial auto line is losing $0.24 on every premium dollar, and the auto line overall lost $2.7B in a single year. Visual claims fraud—staged accidents, manipulated photos, recycled damage images—is a primary cost driver in exactly these lines. The board is watching, and any technology that demonstrably reduces claims leakage has an immediate path to budget approval.
View on AM Best →
Erie Insurance Group
Erie, PA — Top 15 US P&C insurer
Rating Downgrade
Rating Action
Downgraded from A+ to A (September 5, 2025). Multi-year surplus declines, elevated weather losses, increased auto and homeowners severity.
Financial Pain
Declining surplus, rising underwriting leverage, declining liquidity. “Rate lock” feature delays premium recognition, compounding financial pressure.
Key Contact
David Rioux, VP Investigations & Internal Controls. Directly responsible for fraud detection and prevention across all lines.
Window
Downgrade was approximately 5 months ago—still within the acute response window. Erie is actively working to recover its rating, which means cost reduction initiatives are live.
Erie's downgrade explicitly cited “increased severity in auto and homeowners segments.” Severity in auto claims is directly addressable by visual AI—manipulated photos, inflated damage estimates, and staged scenes are a meaningful percentage of severity drivers. Erie's VP of Investigations is the exact buyer for a tool that can demonstrate measurable claims cost reduction while the company is under rating agency scrutiny.
View on AM Best →
Sentry Insurance
Stevens Point, WI — Major commercial auto writer
Worst Combined Ratio
Financial Pain
Worst commercial auto combined ratio among top 20 writers: 130.0% in 2024. Losing $0.30 on every dollar of commercial auto premium collected.
Industry Context
14 of the top 20 commercial auto writers had combined ratios above 100% in 2024. This is the 14th consecutive year of industry-wide commercial auto losses.
Fraud Vector
Staged accidents with manipulated photos are a primary fraud vector in commercial auto. Commercial vehicles involve higher claim values, making each fraudulent claim more costly.
Data Source
NAIC Exhibit of Premiums and Losses—regulatory filings that every insurer must submit.
At a 130% combined ratio, Sentry is losing significantly on every commercial auto policy. Staged accidents with manipulated photos are the dominant fraud pattern in commercial auto, and each fraudulent claim is higher value than personal lines. A visual AI tool that catches even 5% of fraudulent commercial auto claims could shift Sentry's combined ratio by multiple points, directly impacting their worst-performing line.
View on NAIC →

Backup Workflows (Passed Theoretical Evaluation)

These additional workflows scored highly during evaluation. They can supplement lead volume or provide event-driven signals alongside the core rating and loss ratio monitoring.

What You're Looking At

The lead cards in this report aren't a one-time research project. They're a sample of what a Pain-Qualified Prospect Feed looks like—monitoring insurance carrier financial filings and rating actions continuously and surfacing carriers with provable underwriting pain the moment the signal fires.

What the Feed Looks Like

Every Week
6–12 new prospects per week, each with the rating action or financial trigger, specific loss figures by line of business, and verified claims/SIU leadership contacts (VP Claims, SIU Director, VP Investigations).
Week 1 Onboarding
ICP & Pain Signal Map for insurance fraud technology, outreach templates for each signal type (rating downgrade, loss ratio spike, post-catastrophe), and a competitive landscape snapshot—all ready before the first feed ships.
Monthly Refinement
You tell us which prospects turned into meetings. We adjust signal weighting (prioritize certain carrier sizes, lines of business, or geographic regions) so the feed gets sharper every month.
The Guarantee
25–50 pain-qualified prospects with verified contact info every month—or you don't pay for that month.

Built for B2B sales teams who'd rather have reasons to call than names to guess from.

Want to see the full Loss Ratio Signal list?

We'll pull this month's data—25 to 50 P&C carriers with active underwriting pain in auto and property lines—walk you through it live, and show you what lands in your inbox each month. No pitch deck, just the actual feed.

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