Predictive Modeling

 

Verisk has long been a leader in the use of predictive analytics and modeling to help insurers improve their bottom line.

For the personal auto, homeowners, businessowners, and commercial auto lines of business, we offer a suite of predictive models that examine the interactive effects of hundreds of rating variables to predict expected losses at the individual-policy level. Our models determine more accurate loss cost estimates for segments of your business, so you’ll be able to refine your pricing to set premiums that more closely reflect the associated risk.

For medical fraud detection, we apply predictive analytics to your medical billing data to identify suspicious providers that may otherwise go unnoticed. By combining our analytics with the expertise of our analysts, we’re able to identify fraud at the source in the earliest stages of the process, giving you a significant advantage in the fight against spiraling costs.


Products and Services

The environmental module of ISO Risk Analyzer Commercial Auto provides sophisticated analysis for two classes of commercial auto business:local/intermediate trucks, tractors, and trailers (TTT), and private passenger types (PPT).

The ISO Risk Analyzer suite of predictive modeling tools offers robust modules to help you classify, segment, and price your personal auto insurance risks with confidence. The modules provide output you can use as stand-alone analytics or as an enhancement to your current modeling solution.

ISO Risk Analyzer Homeowners is a powerful analytic tool that uses predictive modeling to examine hundreds of indicators that can affect your homeowners risks and predict the noncatastrophe portion of expected losses at the policy level by peril.

ISO Risk Analyzer Businessowners can help you more accurately select and price your small business risks by providing you with a highly detailed look at how major perils affect the loss potential of those risks.

The ISO Risk Analyzer Personal Auto Vehicle Module for Liability is a predictive analytic tool that can help you refine your personal auto rating with new liability symbols and components in finer detail down to the vehicle level.

ISO’s Actuarial Service provides the information you need to enhance your decision making and boost your productivity and profitability. Using ISO’s data to supplement your own experience, you’ll be able to make better-informed decisions about product pricing, marketing, underwriting, reserve adequacy, and reinsurance needs.

Verisk's Atmospheric and Environmental Research (AER) business is a leading source of research and services that further understanding of the global environment and enable better decision making in response to weather and climate-related risk.