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Hit the gas: How to find high-quality data providers to accelerate small commercial underwriting

There may be more to data quality than you realize

There’s so much that goes into developing a high-quality small commercial underwriting data solution—from data governance and sourcing to compliance and model building—that it’s not always easy to understand what’s aspirational and what’s real.

When is a highly accurate small commercial data model not actually all that accurate? When is a high hit rate not really that high? When is underwriting data a potential compliance risk?

When you know what to look for in a data provider, you can answer those questions—and put your small commercial business in the fast lane to growth.

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Verisk’s comprehensive data is helping us improve not only our ease of doing business but also our underwriting results.

  • John Eckmair
  • Utica National Vice President and Chief Underwriting Officer

Book Smart: How to find hidden risks and opportunities in your small commercial insurance portfolio

Portfolio Analysis Teaser

Book Smart: How to find hidden risks and opportunities in your small commercial insurance portfolio

Tap into complete business profiles that help uncover full hazard, exposure, and operational information for cleansing portfolios, aligning coverage, and pricing with exposure-based or actuarially modeled risk correlations.

How Verisk can help

Lightspeed Small Commercial

How Verisk can help

Streamlining the underwriting process requires confidence in the quality of the data you rely on to make decisions. Using a data provider with broad insurance industry expertise can translate into a nuanced understanding of the insights generated by image analytics. Verisk data scientists continually test and develop models to ensure the level of reliability needed to provide actionable underwriting insights that can help you sustainably grow your portfolio and boost profitability.

Integrated directly into LightSpeed® Small Commercial, image analytics paired with other robust data sources can provide insurers with a holistic underwriting solution that helps refine risk assessment and improve customer and agent experiences.

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