During my career, I’ve worked for some of the leading commercial property carriers in the industry. They varied, of course, in their activity and had different segment and distribution strategies, management objectives, appetite for growth, and so forth. But all of them, including our clients at Verisk Commercial Property, had the following business criteria in common:
- price accurately and efficiently
- emphasize market responsiveness and get compliant quotes done quickly
- remain true to established underwriting guidelines
It’s no small task to meet those criteria, but we’re making it much easier. We’ve updated and enhanced our ProMetrix® suite of data and analytics to provide additional insight that will help you better understand and manage risk, improve risk selection and pricing, and provide objective benchmarks against peer property risks to prioritize and automate your underwriting criteria.
In addition, we’ve introduced a first in the marketplace: our real-time risk engineering tool. Underwriters will have the ability to drive the loss cost for an insured property through risk improvement actions and gain a competitive advantage by understanding where risk mitigation can have a positive effect on pricing. The risk engineering utility expands your ability to write business that previously may have fallen outside of established underwriting guidelines.
It’s all available with our newly improved ProMetrix portal for analytics and services. The portal is a totally redesigned, intuitive way of ordering and tailoring reports and tracking your internal usage. The system links directly to our FlightDeck™ API platform, offering you the ability to order risk surveys seamlessly.
We believe these enhancements and added insights are a game changer for our licensed ProMetrix customers. There’s already been a lot of buzz around this launch, as evidenced by recent articles in Business Insurance and Carrier Management. We’ll be sharing more benefits as our customers transition to the new ProMetrix over the coming weeks. Stay tuned.
If you’d like to contact a member of our team about the next generation of ProMetrix, e-mail me at PdeFreitas@verisk.com.