Verisk Data Exchange: Commercial Auto Solutions
The volume and velocity of driving data from connected commercial vehicles is enormous and growing every day. Commercial auto insurers can enhance underwriting value by leveraging telematics data for usage-based insurance (UBI) programs that can help strengthen their customer acquisition and retention efforts.
The Verisk Data Exchange, the first-of-its-kind data exchange for driving information, gives you access to:
Driving behavior history report
For the first time, telematics driving history data will be available at point of sale before a policy is written. Insurers will be able to obtain this data in real time, as well as validate radius and territory rating variables to improve their pricing accuracy and risk selection for new business and to renew safe commercial customers.
The Verisk Data Exchange provides insurers access to thousands of commercial vehicle owners and fleet managers actively shopping for new coverage or lower rates to match insurers’ risk appetite.
- Confidence: Working with the industry’s most experienced and trusted telematics insurance solutions group
- Ease: Access to telematics data for all vehicle classes without investment in technology and logistical support
- Speed: Faster time to market through access to Verisk/ISO’s filing and rating rules
- Service: An improved customer experience through fast, informed quotes at point of sale and renewal, with options for additional claim concierge services
- Options: Ability of participating insurers to leverage other Verisk commercial auto products, including commercial A-PLUS™, auto prefill, and more, to improve underwriting efficiency and insight
For policyholders and fleet owners:
- Safety: Promotion of safer driving leading to reduced insurance costs, improved fleet performance, and better public image
- Savings: Insurers’ enhanced ability to segment risk types, potentially lowering premium costs for commercial fleet owners and managers and further mitigate the total cost of ownership (TCO)
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