Underwriting and Rating
Personal Auto Insurance SolutionsIn a persistent hard market for personal auto insurance, you can still achieve speed, accuracy, scale, flexibility, and a great customer experience through an innovation-driven formula for profitable growth. Get in the driver’s seat with Verisk’s comprehensive personal auto ecosystem.
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.
Prepare to grow with robust programs, pinpoint pricing, and incisive market insights.
Use robust vehicle, driver, and loss history data for more accurate risk selection.
Get the most from your driver, vehicle, and loss history—and maintain compliance.
Digital acceleration ranks second only to process optimization for CIOs in a recent survey.4 Achieve both—and more—with Verisk solutions.
Accelerate data-forward quoting and modernize buying journeys to keep more business in the pipeline and boost conversion rates.
Application integrity was down 18% in a recent Verisk study. Verify customer data at quote and changes at renewal to fight premium leakage.
Achieve precise and optimized quotes by integrating claims data upfront, plus a new crash report enhancement for auto.
Upgrade your MVR solution with more than 2 billion court records and over 300 million crash records for a clearer picture of driver risk.
Gain a chronological, 360-degree view of risk, unlock predictive behavioral patterns, and discover multiple use cases.
Gain efficiency and security by outsourcing compliance for DMVs, lienholders, loss payees, and updates that impact loan and coverage verification.
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.
Verisk's personal property data solutions use advanced analytics to help you adapt to market challenges and gain a comprehensive view of property risk.
Verisk commercial auto insurance solutions span underwriting, risk selection, and rating with robust data and analytics on businesses, vehicle fleets, and drivers.
Capture your best opportunities in small commercial insurance with better risk assessment and straight-through processing using automated Verisk solutions.
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.