Verisk Data Exchange

Verisk Data Exchange Flow Chart

Customer acquisition, retention, and seamless claims handling are among your top priorities as an auto insurer. Many carriers view usage-based insurance (UBI) as an effective strategy to transform the entire customer experience—from purchase through renewal and claims. But you’re also concerned about the costs and adoption challenges of implementing a UBI program. The Verisk Data Exchange™ makes it easier to meet those challenges, implement UBI programs quickly and efficiently, and enter a new era of auto insurance that improves the customer experience and your bottom line.

What Is the Verisk Data Exchange?

Insurers need a single source for driver and vehicle data to refine underwriting and rating—and to get prompt notice of losses to expedite claims settlement. They need to manage data capture and value-add capabilities provided by vehicle manufacturers and telematics service providers to optimize insurance products and customer service.

The first-of-its-kind Verisk Data Exchange efficiently retrieves driving data from all kinds of connected vehicles for underwriting, rating, and claims handling through UBI programs. The Exchange provides a scalable structure designed to normalize, process, and store telematics data of all types, volumes, and velocity from connected cars, aftermarket hardware, or mobile solutions. Finally, a single exchange solves the many-to-many challenge by connecting automakers and telematics service providers to multiple insurers.

Read more to learn the different ways that insurers, driving-data providers, consenting consumers, and fleet owners can benefit from the Verisk Data Exchange.

Why Verisk?

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.

  • Experience-based UBI models created with the industry’s largest database of premium and claims information
  • Predictive models for telematics data and UBI rating rules filed with regulators
  • Industry-proven scoring
  • Comprehensive offering with multi-source data
  • Verisk’s extensive underwriting and claims experience
  • Best-in-market data
  • Customizable API for easy integration
  • Stable and scalable storage

Want to know more?

Phone: 1-800-888-4476
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