Profitability is under pressure from all sides for many personal auto insurers. Combined ratios set a new record at 112.2,1 and premium leakage topped $35 billion in 2022.2 Meanwhile, application fraud was up 18% in 2023 over 2019.3 How can you not just survive but thrive in today’s high-stress environment?
The personal auto policy life cycle demands innovative products and tools. You’ll find them here.
Digital acceleration ranks second only to process optimization for CIOs in a recent survey.4 Achieve both—and more—with Verisk solutions.
For all your customers’ insurance needs, from their homes to their livelihoods, we’re here to help you meet them with the right products and services.
1. AM Best, Best’s Aggregates & Averages
2. Coalition Against Insurance Fraud, The Impact of Insurance Fraud on the U.S. Economy
3. Verisk client analysis of 9.1 million applications, based on average RISK:check score, August 2023; first three quarters of 2023 vs. full-year 2019
4. Celent, North American Property/Casualty 2023 CIO Pressures and Priorities, used with permission.