Home or property insurance has ceased being a formal affair, but has become a necessity. The risks of homeowners continue to grow in the U.S., where individuals are becoming more often exposed to natural disasters such as wildfires, floods, and aggressions that people cannot regulate. At the same time, the property insurance industry experiences a high level of competition, and customers are willing to buy insurance with a high degree of reliability and also affordable in terms of finances. To fulfill these expectations, the insurers are moving out of one size fits policies and to personalised premiums that are more in line with the individual risk profiles.

Applying machine learning models is radically changing the pricing strategy of property insurance, where insurers are becoming more

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