Underwriting and Rating

RISK:check Suite

Detect fraud in real time. Confront premium leakage at point of sale and renewal. Leverage superior analytics to prioritize the pursuit of missing premium.

How much is hard and soft fraud costing you?

Insurance fraud adds up to $308.6 billion per year, a cost borne in part by American consumers.¹ Auto insurance premium leakage is estimated at $35.1 billion annually.² And application fraud—as defined by Verisk's average RISK:check score—was 18% higher in 2023 compared with a 2019 baseline.³

Keep risk in check

Take on premium leakage and underwriting fraud with data-driven insights across the policy life cycle using our RISK:check® suite.

Fraud detection

Get ahead of hard and soft application fraud in real time with 65+ triggers at point of sale—plus renewal underwriting solutions.

Rating integrity

Get extensive data and analytics from an industry leader. Determine how to confront premium leakage yet balance retention and profitability with a 22:1 ROI.⁴

Customer experience

Outsource policyholder contact with skilled outreach and customized channels.

Personal auto research: Application integrity and fraud

Consumer demand for speed is straining fraud safeguards. Verisk’s analysis of nearly 4 million applications shows that application integrity is deteriorating post-pandemic.

Read the article

Personal auto research: Application integrity and fraud

Features and capabilities

The RISK:check suite’s three tools help address fraud and uphold rating integrity across the policy life cycle. Our 65+ unique analytic triggers span identity, garaging address, unidentified drivers and vehicles, branded titles, business use of vehicles, and more. We analyze millions of policies to help recover billions in premium dollars.

Connect costs to claims

Identify top-tier risks and flag potential fraud with automated validation and scoring for application integrity. Help your underwriters assess and rate risk more precisely and reduce premium leakage.

Maintain rate integrity

Driver, vehicle, or address changes affect 40% of policies annually.⁵ Uncover potential premium leakage and optimize profitable retention with pursuit of the most impactful policies. Boost profitability with non-rate actions that don’t require a rate filing.

Refine policyholder outreach

Optimize and customize policyholder outreach to fix rating errors, recover premium, and boost the customer experience with outsourced professional communications. Get timely, validated renewal data, monthly reports on program results, and secure access to key information and policy changes.

Related resources

Evolving insurance buyers, rising digital expectations, and challenging competitive forces are transforming personal auto insurance.

Get ahead by exploring smart ways to innovate, build loyalty, and achieve profitable growth.

White paper

Unlocking One-Rate Auto Insurance Acquisition

Fundamental market shifts are transforming personal auto insurance. How can insurers unclog the sales pipeline and boost customer loyalty?

Download the white paper

Article

Personal auto research: Application integrity down, fraud up

Application integrity for personal auto insurance has deteriorated more than 20 percent over the past eight years, according to Verisk research.

Read the article

Article

How non-rate actions are easing personal auto profitability pressures

Verisk has seen a marked increase in insurers seeking strategic sourcing of non-rate actions to confront premium leakage in 2023.

Read the article

White paper

Innovation Strategies for Auto Insurance Underwriting

This paper explores strategies for moving innovation forward in auto underwriting.

Read the white paper

Commercial And Personal Auto Insurance Digitization

Article

Transform auto quote experiences for what comes next

Increasing speed is becoming the norm for auto insurance quotes, driving digital transformation and data-forward strategies.

Read the article

Do more with the Verisk ecosystem

Future-proof your business with a partner that puts you in the driver’s seat.

Modernized, data-forward quoting

Accelerate data-forward quoting and modernize buying journeys to keep more business in the pipeline and boost conversion rates.

Learn about LightSpeed Personal Auto

Undisclosed driver identification

Confront the leading source of premium leakage by determining who is driving what vehicle.

Learn about Undisclosed Driver Information

Mileage verification

Leverage the strong link between mileage and claims to strengthen your underwriting and rating.

Learn about MileageConfirm

Garaging validation

Use actual vehicle sightings to verify garaging address and commuting mileage.

Learn about GarageConfirm

Public records insights

Upgrade your MVR solution with more than 2 billion court records and over 100 million crash records for a clearer picture of driver risk.

Learn about Public Records Intelligence

Simplified compliance

Gain efficiency and security by outsourcing compliance for DMVs, lienholders, loss payees, and updates that impact loan and coverage verification.

Learn about CV Services

Contact us to learn more

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¹ _{The Impact of Insurance Fraud on the US Economy, The Coalition Against Insurance Fraud, 2022.}

² _{Ibid. Additional Verisk research can be found in the report: The Challenge of Auto Insurance Premium Leakage, 2017.}

³ _{Verisk client analysis of 9.1 million applications, August 2023; first three quarters of 2023 vs. full-year 2019.}

⁴_{Verisk client experience; 22:1 return on investment over policy life cycle.}

⁵_{Verisk client experience.}