Our main goal, however, remains to protect the residents and business owners trapped in these properties by providing grant funds to buy them out, elevate the structures, or otherwise reduce future damage, and break the heartbreaking cycle of repetitive losses. Our goal is to protect residents and business owners by providing real alternatives to break the cycle of repetitive losses. We are also looking to the future, and the role that financial incentives in our WYO Agreement could play in providing an incentive for detecting and reporting fraud. Technology is transforming the insurance business. But, despite its extraordinary growth, the Internet's impact on the insurance industry is still in its infancy.
Technology is a powerful weapon against fraud.
Gathering information on the longitude and latitude of insured properties, which we are doing for the 10,000 worst repetitive loss properties and will have for the others in a couple of years, will cut down on duplicate claims and help us identify patterns of claims activity. You are partners in this purpose. We value an open channel of communications with you and your organization on how we can do our job better to reduce fraud and serve the millions of property owners across the country at risk of flooding.