ProMetrix Next Generation: New risk insights, analytics, and modeling capability

ProMetrix: Next Generation

 

Speed to market with accurate pricing is vital. You need to underwrite and quote coverage fast, or you’ll lose out to the competition. The loss cost, rating, and risk selection information available through our ProMetrix® suite of services lets you price policies accurately and get quotes to customers quickly.

When underwriters manually gather information from data systems, you risk making errors, accessing incorrect information, and adding extra work for your staff. With the ProMetrix® API (application program interface), you can avoid those issues and get accurate, real-time information integrated directly into your system and other business processes.

It all comes down to the details when you’re underwriting and quoting coverage. Knowing those details can provide you with a competitive edge. High-resolution aerial imagery through our ProMetrix® suite of services helps give you the level of detail needed to price policies accurately and get quotes to customers quickly.

See case studies of how we integrated ProMetrix® data into business rules engines and used that data to underwrite blanket policies more effectively for customers. Our ProMetrix data and analytics, based on our database of more than 3.5 million commercial properties, can help you underwrite and price policies better.

You need to underwrite and quote coverage fast and accurately — or lose out to the competition. Verisk’s 360Value® Estimated Replacement Cost Valuation provides fast, accurate insurance-to-value estimates for your property. It’s just one of the many tools we offer to price and develop loss estimates for policies accurately and quickly.

You need to underwrite and quote coverage fast or lose out to the competition. The reliable analytics in Verisk’s Building Overview Report help you verify the accuracy of information you get from municipal tax assessor databases about construction, square footage, and number of stories. The report, available through the ProMetrix® system, provides much more.

You can immediately gain a competitive advantage when you understand which properties fit your underwriting guidelines and which require more intensive review. Verisk’s Building Underwriting Report provides extensive information on the construction, occupancy, hazards, fire protection, and applicable wind exposure of any risk in the ProMetrix® commercial property database. And it includes our Relative Hazard Percentile, which gives an objective score for individual risk selection.

To underwrite and set terms accurately, you need information specific to a building, particularly if it’s in a high-exposure area. The reliable wind peril information available through Verisk’s Enhanced Wind Rating Program fills a void in the insurance industry by quantifying an individual building’s resistance and exposure to wind damage.

In a fast-paced market, you need to respond to new business opportunities even when there’s limited information available. To avoid making a straight declination or losing out to the competition while waiting for a field inspection, Verisk’s Estimated Loss Cost Quote Report gives you a quick, simple, and economical way to estimate both class-rated and specifically rated commercial loss costs with limited information.

A filed loss cost is a powerful driver of underwriting and pricing, helping you determine adequate premium. But that same loss cost may seem to limit your options to improve premium and accurately price policies for your insureds. Our Loss Cost Quote Report helps you beat the competition with reliable loss cost, rating, and risk selection information.

Understanding undisclosed risks is vital to underwriting a commercial property accurately. Often, it’s unknown or incomplete information that proves costly. Past and future site-specific weather events, prior incidents that didn’t result in filed claims, potential risks from neighboring properties — all are risks you need to know about. Verisk’s Peril and Incident Report gives you the complete picture of a property’s risks, allowing you to set premiums more precisely or know which properties not to underwrite.

Visual information is often key to helping you understand potential risk and price policies accurately. You need reliable, detailed information to underwrite and quote coverage fast, or you’ll lose out to the competition. Verisk’s PhotoPak™ gives you full-color photographs of commercial properties and surrounding exposures along with other valuable data.

Speed to market with accurate pricing is vital, but sometimes a detailed report based on an on-site inspection isn’t available. However, reliable information that’s specific to your needs is still critical. That’s why we offer Verisk’s Property Details Report, a street-level, exterior-only building survey by a trained Verisk field analyst.

To stay ahead of the competition, you need up-to-date information about a building’s construction, occupancy, hazards, and protection. But that isn’t always enough. Sometimes you’ll want a more in-depth look at the loss cost calculations, including the charges and credits we applied. Verisk’s Rating Survey Detail Report gives you details on how we calculate specific loss costs for any risk in the ProMetrix® commercial property database.

Having unique insight into the quality of a property’s risk characteristics is a powerful advantage. You need to know which properties to underwrite immediately and those that may need a more intensive review. Verisk’s Relative Hazard Percentile stratifies properties and gives you an objective risk score you can use for individual risk selection and loss control prioritization.

Helping insureds improve their risk and lower projected loss costs is a powerful way to get an edge on your competition. Some of the simplest risk improvements can make a significant difference in loss costs, and Verisk’s Risk Engineering Utility lets you take advantage of information on those cost differences. You’ll give insureds a real economic benefit — and the best possible quote.

Loss control and risk reduction are two results of the same critical calculation for rating and competitive advantage. Verisk’s Risk Improvement Recommendations give you insights on building and occupancy hazards that help you reduce insured risks, control losses, and offer the most competitive quote.

Knowing whether a building is sprinklered is only part of the total risk picture. You also need to know if the sprinkler system can adequately protect the property and how it affects the building’s loss cost. Verisk’s Sprinkler Assessment Report provides an easy-to-understand engineering assessment of the effectiveness and loss reduction capabilities of a sprinkler system, at a glance.

To be as competitive as possible, you need insightful, granular detail about a property and its environment. You need Underwriters Advantage, a single source of information that combines property-specific data from a wide variety of ProMetrix® system reports.

To stay competitive, you have to make quick decisions. Fast, easily accessible, accurate data and insight are critical. Our field-verified loss cost and risk selection information lets you price your quote accurately and get it to your clients quickly. In the tutorials below, we’re pleased to introduce easier, more effective ways of using that insight to your best advantage — all through our ProMetrix® data and analytics system.