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.
In direct written premium in the small commercial segment
Small businesses without insurance, with millions more underinsured
Untapped small commercial market opportunity
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.
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.
For effective automated underwriting, insurers must master the intersection of data, analytics, workflow, and technology.Learn more
Identifying the essentials can put you ahead in the race to zero questions.Learn more
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.Learn more
Learn how artificial intelligence and machine learning are reshaping the landscape of small commercial insurance underwriting.Learn more
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
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.
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
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
Learn how high-quality data providers accelerate small commercial underwriting.Read the article
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Commercial auto insurers, challenged by the pandemic and inflation, can find guidance in innovations from other lines of business.Read the article