Next-Generation Underwriting and Loss Control Tools for Carriers

December 16, 2014 / 2 min read

JERSEY CITY, N.J., December 16, 2014 — Verisk Insurance Solutions – Commercial Property announced today the availability of the next generation of its ProMetrix® suite of data and analytics for commercial property carriers. The ProMetrix database, which includes more than 3.5 million site-verified commercial properties and more than 6 million businesses, is the foundation for Verisk’s reports and services. Verisk Insurance Solutions – Commercial Property is a Verisk Analytics (Nasdaq:VRSK) business.

ProMetrix has been updated and enhanced to offer more insightful analysis, including the ability to benchmark risks against peer properties instantly, a host-to-host API that can help insurance carriers automate underwriting guidelines, and risk engineering.

“Carriers need to differentiate themselves in the marketplace — get a quote out the door fast, price it accurately, and do it efficiently and consistently within their underwriting guidelines,” said Anil Vasagiri, vice president of Verisk Insurance Solutions – Commercial Property. “The next generation of ProMetrix addresses each of those challenges with new and enhanced capabilities, providing our commercial property underwriting clients with a competitive edge.”

Based on customer engagement, Verisk has also overhauled its ProMetrix website, which provides data and analytics on construction, building and occupancy loss costs, relative hazard comparisons, property details, protection, sprinkler grade, and exposure details. Customers are transitioning to the new ProMetrix and will continue to do so over the next several months.

“Our new, dynamic real-time risk-engineering tool is already generating high returns for our customers who’ve transitioned to the next generation of ProMetrix,” said Peter de Freitas, assistant vice president of Verisk Insurance Solutions – Commercial Property, ProMetrix. “For the first time, underwriters will have the ability to actually drive the loss cost for an insured property through risk improvement actions and gain a competitive advantage through the rating insights derived. This can be a game changer for insurers.”

In addition to a new, highly intuitive web experience, the site offers enhanced imagery and mapping, clear and concise screen displays, a new report-ordering system, and personalized IDs to help customers track usage while at the same time allowing Verisk to provide point-of-sale inquiry support.

About Verisk Insurance Solutions – Commercial Property
A Verisk Analytics (Nasdaq:VRSK) business, Verisk Insurance Solutions – Commercial Property is a leading provider of risk assessment services, comprehensive data, and decision analytics that help leaders in property/casualty insurance, commercial real estate, and community hazard mitigation define, measure, and manage risk and maximize competitive advantage. Drawing upon vast experience in data management, predictive modeling, and risk assessment solutions, Verisk Insurance Solutions includes the industry-leading brands of ISO, AIR Worldwide, and Xactware. In the United States and around the world, Verisk Analytics helps customers protect people, property, and financial assets. For more information, visit www.verisk.com/cp.

Contact:

Giuseppe Barone/Colleen Finley
MWW Group (for Verisk Commercial Property)
201-507-9500
gbarone@mww.com
cfinley@mww.com

Verisk Launches Next-Generation Underwriting and Loss Control Tools for Commercial Property Carriers, Enhances Proprietary ProMetrix Analytic Reports