As this is my first blog post, I'd like to keep it simple and offer a few words about the auto insurance market and our new brand strategy.
Many of our customers are surprised to learn about the wide range of products and services we offer to auto writers. We often hear, “I didn’t know you guys did that!” Many of these programs are relatively new and have resulted from the ISO and Verisk product development and business expansion strategies. In October 2010, Verisk Analytics issued a press release introducing the Verisk Insurance Solutions brand. The purpose of the brand is simple: to serve as an umbrella for all products serving the insurance market. In other words, since ISO is no longer the only brand within our enterprise serving this sector, we needed a brand strategy to cover our wide range of offerings from multiple business units. The Verisk Insurance Solutions brand covers all property/casualty insurance products and services for all lines of business. Below is a high-level summary of selected products and services offered to the auto insurance market.
Verisk Insurance Solutions — a focus on automobile:
- Fraud tools and data — new and renewal business
- Claims and SIU services
- Underwriting data and prefill
- Policy forms, rating rules, loss costs
- Rating Symbols
- Integrated policy rating and issuance systems
- Public records
- Telematics — fully integrated services
- Regulatory reporting
- Next-generation risk models
- Catastrophe models
- Climate/environmental models
- Location-based portfolio management tools (GIS)
Note: This list is not all-inclusive.
The programs come from several companies in the Verisk Analytics Family of Companies, including ISO, Quality Planning, iiX, AIR Worldwide, and AER (Atmospheric and Environmental Research). Several product and division brand names are very well known to the auto market, including A-PLUS, ISO ClaimSearch, ISO Innovative Analytics, and many others.
I hope this brief “history lesson” and summary is helpful. The range of risk solutions supporting our auto carrier customers is diverse and growing. Please keep an eye on this blog for upcoming posts on a variety of topics. We look forward to keeping in touch.