Underwriting and Rating

RadiusCheck

Commercial auto insurers experienced more than $15B in radius-related premium leakage over the past decade.

Radius misclassification can cost you dearly in premium leakage

A Verisk study found that 23% of commercial vehicles were sighted outside of the radius stated by the policyholder.¹ Of those vehicles, 16% are classified as “worst offenders,” accounting for more than two-thirds of the estimated radius-related premium leakage.

Location, location, location

How can you begin to recapture the commercial auto premium leakage caused by radius misclassification each year? RadiusCheck uses photo data to match vehicles to your portfolio for a more complete picture of violations.

Leverage location

Use on-site photographs, precise location data, and date/time stamps to map your book for misclassifications.

See the details

Understand the loss cost impact with data on duration and frequency of violations.

Strategize targeting

Target the worst offenders—the 16% responsible for two-thirds of premium leakage—by turning precise location data into actionable evidence.

RadiusCheck in action

Here’s an example: VeriTruck is insured within Glendale, CA with a 50-mile radius. RadiusCheck reports 46 VeriTruck vehicle sightings from 8/16/2020 to 1/14/2023. 85% of these sightings were more than 100 miles beyond the specified radius.

Features and capabilities

Photographic evidence

Leverage innovative technology that takes on-site photos of vehicles and matches them to your book.

Granular location data

Target the worst offenders by grouping radius violations by class and understanding their loss cost impact.

Classify accurately

Understand when radius misclassification might in fact be territory misclassification, and amend policies accordingly.

Commercial Auto Profitability: Analytic Approaches and Innovative Tools

Explore challenges and learn about four strategies for commercial auto insurers to modernize and boost profitability for the long haul.

Read the white paper

Commercial Auto Profitability: Analytic Approaches and Innovative Tools

Related resources

Stay in the know about important industry trends and innovative solutions.

Commercial Auto Case Study

Summary sighting analysis using Verisk’s RadiusCheck helped recapture millions of dollars in premium leakage, enough to potentially reverse negative loss trends.

Read the case study

Webinar

Confirming Radius Class with Verisk's Commercial Auto RadiusCheck®

More than 95% of commercial vehicles are classified as local radius. How do commercial auto insurers confirm the radius class?

View the webinar on demand

Brochure

Avoid your share of the $6.4B loss

Learn how to prioritize the “worst offenders” responsible for $4.4B of the premium leakage associated with radius misclassification.

Download the brochure

Report

Recapturing Billions in Commercial Auto Premium Leakage

Our report provides an analysis of the causes, scope, and remedies for the problems plaguing many insurers in the commercial auto market.

Read the report

Article

Turning profitable: What commercial auto insurers should know

Commercial auto underwriting losses are growing 16.2 percent annually. But some insurers are thriving—and making handsome profits. Here’s what they’re doing differently.

Read the article