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Small Commercial Insurance Solutions

Small businesses are forming every day, with diverse coverage requirements and rising expectations. How do you meet the needs of this rapidly changing market?

From identifying industries and businesses to add to your portfolio, to improving risk assessment and straight-through processing, Verisk’s solutions can help you increase automation and focus on tasks that add more value to your business.

Verisk’s innovative products and tools span the small commercial policy life cycle

Small businesses are big business for insurers. We can help.

Direct Written Premium

$140+ billion

In direct written premium in the small commercial segment

Small Business Without Insurance

12 million

Small businesses without insurance, with millions more underinsured

Market Opportunity

$65 – 70 billion

Untapped small commercial market opportunity

Bad underwriting data can be costly

Inaccurate or missing information on small commercial policies can lead to underinsurance for millions of small businesses and unsustainable premium leakage for providers. Reliable data and analytics solutions powered by innovations in machine learning and artificial intelligence (AI) can help insurers avoid costly misclassifications.

statistics about compounding BOP premium loss

How many hours do you spend on manual research?

Lightspeed Small Commercial

How many hours do you spend on manual research?

If an underwriter spends as little as 10 minutes searching for basic information to perform a risk assessment on a small business, it can quickly add up to thousands of hours per year. Verisk provides extensive data about small businesses in seconds using just a business name and address.

  • Reduce or eliminate the need to ask for information from business owners
  • Free up time for more complex, high-value risk assessments
  • Deliver quotes with more speed and confidence

Boost your Business Owners Program with accurate insights

Small Commercial

Automated Underwriting: Winning in the Race to Zero

For effective automated underwriting, insurers must master the intersection of data, analytics, workflow, and technology.

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Small Comm Data Noise Teaser

Reduce the noise in small commercial data

Identifying the essentials can put you ahead in the race to zero questions.

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Hit The Gas

High-quality data providers accelerate small commercial underwriting

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.

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Beyond The Buzz Word

Beyond the Buzzword: Understanding the power of AI in small commercial underwriting

Learn how artificial intelligence and machine learning are reshaping the landscape of small commercial insurance underwriting.

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We chose to partner with Verisk because of the accuracy of their data. Their validation process stands out in a crowded marketplace, and it gives us the confidence to make data-driven decisions.

  • Adam Vander Weerdt
  • Manager, Commercial Lines Product Management, West Bend

Developing a path to digital transformation

Digital Transformation Small Commercial Insurers

Developing a path to digital transformation

Automating the underwriting of commercial insurance is complicated. Businesses pivot, regulations evolve, and data quality fluctuates.

There are insurers, though, that have found a path forward. They’ve developed an in-depth understanding of their existing processes, identified and prioritized their plans, and leveraged insurance expertise and insurance-ready data to create a sustainable pipeline of innovation.

Get a clearer picture of risk exposure with image analytics

Image Analytics

Get a clearer picture of risk exposure with image analytics

In today’s fast-paced, digital marketplace, the value of pictures isn’t measured in thousands of words, but in millions of dollars. Computer vision can “see” images on a company’s website , social media pages, and customer review sites through the eyes of an underwriter.

Discover how image analytics opens a new window to see your customers and applicants more clearly than ever before.

Verisk’s value extends beyond data accuracy. It’s part of the engine allowing us to bring tailored coverages to small businesses.

  • GILD Insurance

Looking for a data and analytics partner to help you innovate? We’re here to help you with your digital transformation.

Stay competitive. Automate underwriting. Accelerate decision-making.

Commercial Lines Underwriting Strategies

Stay competitive. Automate underwriting. Accelerate decision-making.

Data and advanced analytics can drive everything from decisions on new markets and segmentation to standing up new lines of business in months versus years. Increase speed to market and boost profitability by embracing the new era of digital transformation for commercial lines insurance.

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

Additional insights

Wildfire Wineries

How wildfire activity is affecting Northern California for the long haul

With the wine industry estimating over $3 billion in losses due to these fire events, the spotlight on wildfire risk in Northern California remains as acute as ever.

Read the article
Advantages Of Ai

Four advantages AI brings to small commercial underwriting

Learn how artificial intelligence helps small commercial insurers unlock powerful new data sources and game-changing workflow efficiences.

Read the article
Automation And Analytics

Not a monster: How insurers can accelerate their digital transformations, one step at a time

With automation and analytics advancing at a rapid pace, many insurers are looking to transform the experience of buying commercial coverage, from time-consuming and…

Read the article
Data Report

Don’t be fooled again: How to understand data quality metrics

What data quality metrics should small commercial insurers focus on? Here's what you need to know.

Read the article

Contact Us to Learn More

Other Ways to Connect

We are available Monday through Friday, 7 a.m. — 8 p.m. US Eastern Time:

  • Chat Now

    Note that password resets and user information are not available through Live Chat or Email. Instead, please call the main toll-free number below.

  • Main Toll-Free: 1-800-888-4476

  • Global Toll-Free: International Access code, then 800 48977489
    When calling from the UK, please dial 00 800 4897 7489

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