Personal and Commercial Property IoT
How can insurers move property IoT data out of the innovation lab and into production?
Insurers have explored the potential benefits of IoT data from residential and commercial properties across the policy life cycle; the challenge is to weave insights into workflows at scale. Verisk can help unlock new use cases with access to multisource data and advanced analytics.
Underwriting and rating
Discount verification
Underwrite more accurately and combat premium leakage by digitally verifying that monitored security systems and protective smart devices are in place and active before granting insurance discounts or credits.
Behavioral data
Power use cases across the insurance life cycle and fuel risk scores with rich behavioral data from a wide array of smart home vendors, devices, and platforms.
Reap the benefits of property IoT data from the Verisk Data Exchange
Flexibility
IoT data can support use cases across the policy life cycle and strengthen the customer experience.
Integration Efficiency
A single access point unlocks data from a range of property-based IoT providers.
Data Harmonization
Source-agnostic data accelerates value creation and reduces the heavy lifting.
Consumer Consent
Purpose-built data sharing features give customers more control and foster trust-based relationships.
Additional insights
How carriers can avoid passing inflation costs on to customers
Inflation is on the rise, how carriers can avoid passing costs onto customers by using UBI based programs
Read the article
Three emerging technologies reshaping the future of personal lines
How connected cars, smart homes, and electric vehicles could impact personal lines insurance carriers and agents.
Read the article
How to extract more value from auto insurance underwriting data
Competition and growing digital information sources demand that auto insurers balance underwriting data consumption with cost efficiency.
Read the articleTake your IoT data even further
Insurance Consulting
Verisk insurance consultants can help you leverage telematics data and analytics to better understand how they align with your strategic direction.
Personal Property Solutions
With growing complexity in personal property risk and rising customer expectations, how do insurers achieve sound underwriting and pricing at a competitive pace?
Commercial Property Solutions
With reliable data from more than 12.2 million properties, 25 million businesses, 2.6 million OSHA violations, and 15 million restaurant violations, you get essential information for your underwriting.