Casualty Underwriting Advantage Report
Misclassifications and a lack of granular data often cause errors in selecting and pricing risks
Misclassification can negatively affect your profitability and the costs to customers. To avoid improperly pricing a liability policy, you need complete and accurate information. But until now, obtaining reliable information has been difficult, if not impossible. With the Casualty Underwriting Advantage Report—an enhanced report that features a wide range of critical information—underwriters get a comprehensive, single-source, point-of-sale report that provides information you can count on.
The Casualty Underwriting Advantage Report eliminates the need for time-intensive research to complete and confirm an application. An in-depth risk evaluation validates existing information and identifies new information to make sure you have the proper risk selection and pricing. That benefits both you and your insureds because premium properly reflects coverages.
The report is available through our ProMetrix® ordering platform and includes:
- type of business
- business registration and licenses
- number of employees
- estimated annual sales
- credit history metrics
- relative credit grading
- OSHA
- observed hazards
- property details
- risk potential of neighboring businesses
- business firmographics
- parent company data
- recent news about the business you’re researching
- proprietary 8-digit NAICS codes for improved classification
We help you improve risk selection by profiling specific risks based on certain characteristics. We deliver data, analytics, and metrics you can’t get from any other provider—all in one simple-to-understand report delivered via the web.
Fast, accurate underwriting decisions
Fast, accurate underwriting decisions
Perhaps best of all, you get this actionable information aggregated in one easy-to-use web interface. The online report eliminates the need to rely on self-reported audits, perform days of research, or price spontaneously. You won’t have to guess at a business’s classification, exposure, or management efficiency, because the report provides a comprehensive picture of the risk. That includes characteristics and incidents that represent specific, tangible risks along with valuable estimates of management quality.
The data we supply is credible, accurate, complete, and not available from any other single source. You’ll make speedier quotes, adhere to your underwriting guidelines, process more applications, write more profitable business, and provide your customers with proper rates.
Ultimately, better pricing and risk management help improve your relationship with your insureds. They can count on their liability coverage when they need it, and you’ll increase your profitability.
Want to learn more about how Verisk can help you capitalize on the growing small commercial market?
Additional insights
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
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
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
