Comprehensive Commercial Auto Solutions
Macro-economic trends are challenging commercial auto insurers—while premiums are up, so are claims frequency and severity, resulting in losses outpacing premiums. There was $9.7 billion in underwriting losses from 2012–2016. As insurmountable as that may seem, the most profitable insurers have consistently achieved combined ratios that are, on average, 14 points better than the industry during this 5-year period.
We offer a comprehensive suite of solutions to help you win in the commercial auto marketplace. Our solutions provide value on every step along the path to profitability.
Analyze your book to ﬁnd and ﬁx premium leakage and misclassiﬁcation
- Identify the sources of premium leakage from misclassifications in vehicle size, use, and operating radius.
- Explore your speed-to-quote and distribution channel relationships to improve efficiency.
- Understand how your rating plan impacts your business performance.
Reimagine your commercial auto marketing and risk segmentation strategy
- Refine segmentation in your rating plan
- Understand industry loss experience and benchmark against peers
- Size and segment the U.S. market using demographic and commercial insurance information
- Analyze longer-term trends affecting price adequacy, losses, and reserve levels
Automate your data capture for risk pricing and underwriting decisions
- Capture details about the business and vehicle use
- Know specifics about vehicles including vehicle identification number (VIN), age, weight, price, and registered owner
- Validate driving radius, garaging location, and vehicle use type
- Understand loss history of business being evaluated
Monitor your risks and industry trends to keep a competitive edge
- Identify adverse activity for covered drivers
- Know where and how insured vehicles are being driven
- Easily update and manage your loss costs, rules, and forms for your commercial auto policies
- Arm your customers with strategies to improve driver safety
For more information about Commercial Auto Solutions
- Call Verisk Customer Support at 1-800-888-4476.
Representatives are available Monday through Friday, 8 a.m. to 9 p.m. Eastern time.