Numbers are curious things. The overused business expression for seeing something from a high level is “a 30,000 foot view.” Professional divers, however, define a “deep dive” as anything from 60 to 100 feet below the surface of the water — a far smaller frame of reference. I guess it’s all relative, or perhaps directional. When we introduced the next generation of our ProMetrix® suite of data, analytics, and reports, we started at the high level. As our customers used the new web portal for ordering and learned the functionality and usefulness of the new analytics, we knew it was time for a deep dive, perhaps even deeper than a scuba diver’s definition.
In addition to the materials available through our website and tutorials, we wanted to provide more insight on the reports, especially the ones that most of our customers gave us feedback about. We created a web seminar that examines how to use several aspects of ProMetrix from the standpoint of both functionality and competitiveness.
In the web seminar, my colleague Anthony Recanatini, Verisk’s principal consultant for ProMetrix, and I delve into loss costs, improvements to the Relative Hazard Percentile, the updated Sprinkler Assessment Report, the definitions of Type I and Type II Loss Estimates, and the new Risk Engineering Utility. The Risk Engineering Utility, perhaps the most exciting innovation, identifies remediable building deficiencies that drive the loss cost. Using a unique what-if assessment, you can model the assessments instantly to recalculate loss costs based on correcting the deficiencies. That allows you to present an excellent economic case for making the remediations to a distributor or the insured.
When our web seminar originally aired, we had a sizable audience tuning in, including, perhaps, many of your competitors. If you missed it, you can view A Deep Dive on Next-Gen ProMetrix Analytics on-demand.
For more information, feel free to contact me at PDeFreitas@verisk.com.