The first-of-its-kind Verisk Data Exchange draws driving data from all kinds of connected vehicles for underwriting, rating, and claims handling through UBI programs. The exchange is scalable to normalize, process, and store telematics data of all types, volumes, and velocity from connected cars, aftermarket hardware, or mobile solutions. Finally, one exchange solves the many-to-many challenge by connecting automakers and telematics service providers (TSPs) to multiple insurers.
A single source for driver and vehicle data can refine underwriting and rating—and provide prompt notice of losses to expedite claims settlement. The data capture and value-add capabilities provided by vehicle manufacturers and TSPs help to optimize insurance products and customer service.
As a global leader in risk assessment and data analytics services for more than 40 years, Verisk is uniquely positioned to provide a platform for a much-needed data exchange for driving and claims data.