Every hour, 445 new driver’s licenses are issued, and many are to 16-year-olds. New drivers in the household are a leading source of premium leakage in the auto insurance industry. In total, unrecognized drivers of all types cost the insurance industry $6.3 billion annually, according to estimates by Verisk Insurance Solutions.
Register for our Verisk Monday Webinar, Undisclosed Drivers: A Leading Source of Premium Leakage, taking place on August 17, 2015, at 2 p.m. Eastern time, to learn:
- how changing life events lead to unaligned policy risk
- the high cost of premium leakage
- portfolio management practices that drive profitability
- unrecognized-driver best practices
- how to maintain rating integrity over the life of a policy
- ways to increase touchpoints, and the benefits of outreach
- case study results
I hope you can attend.
If you’re interested in discussing how renewal analytics and policy monitoring solutions can reduce leakage and capture more premium, feel free to contact me at email@example.com.