Verisk Data Exchange: Unlocking the Value of Connected-Vehicle Data
Vehicle and driving data can power usage-based insurance (UBI) and claims processing. But how can auto manufacturers, telematics service providers, mobile service providers, and hundreds of auto insurers connect to leverage driving data and improve the customer experience from quote to claim? With the Verisk Data Exchange™, you can maximize your data’s reach across the insurance market, simplify data integration and infrastructure development, strengthen consumer engagement, and streamline claims service.
How do customers and fleet owners benefit?
- Lower-risk customers can save on their premiums.
- Drivers can shop for auto insurance with more convenience, flexibility, and portability.
- Insurers can promote safety with driving feedback and protect customers with traffic and weather alerts.
- Accurate exposure rating and risk-specific premiums offer savings to commercial fleet owners and managers.
- Customers can report and resolve claims faster, enabling greater satisfaction with their insurer.
How do insurers benefit?
- The exchange helps insurers acquire and retain safe drivers.
- Vehicle mileage tracking brings pinpoint accuracy to a widely used rating factor in personal auto insurance.
- Easy access to driving data and Verisk’s filing of UBI rating rules in 43 states mean faster time to market.
- Insurers can more accurately segment classes of commercial vehicles and fleets.
- The exchange’s instant first notice of loss (FNOL) capability streamlines the claims process.