Verisk has dramatically expanded the available consumption models for ISO rating content, including a new cloud-based “Rating as a Service,” or RaaS, model.
Crucial questions remain over whether insurers have the in-house capacity and expertise to develop truly fit-for-purpose solutions, or if they should opt for an industry partner to deploy an off-the shelf solution.
Data management and statistical reporting are serious business - insurers must constantly prepare, manage, and report accurate data, daunting to larger insurers and even more difficult for start-ups or acquisitions.