Insurers need reliable insured loss history data at point of sale or run the risk of underwriting commercial policies incorrectly. That can lead to higher loss ratios and loss of profitability. Also, having to wait too long for reliable data can lead to lost revenue opportunities. Verisk’s Commercial A-PLUSTM can provide that data at point of sale—quickly.
Commercial A-PLUS is a contributory solution that provides insured loss history data at point of sale. In exchange for authorizing the use of their claims data, participating insurers can access instant, more accurate, and comprehensive insured loss data and benchmarks. That information can help reduce your underwriting expenses and help match price to risk.
How A-PLUS helps
A-PLUS addresses critical underwriting challenges you encounter and provides the data and analytics to overcome those challenges. For example, quoting policies without verification can lead to higher loss ratios. A-PLUS allows you to match price to risk by providing you with a truer picture of a business’s claims history, allowing you to minimize loss ratios.
Quotes subject to the receipt of loss runs can cost you time and money. A-PLUS delivers real-time electronic loss-runs information efficiently, helping to reduce underwriting expenses. You’ll no longer have to wait on loss runs, which increases your speed to quote and prevents lost revenue opportunities. That accelerated speed to quote can help make you the insurer of choice for agents and insureds, helping you grow revenue.
A comprehensive solution
A-PLUS lets you access loss histories from all commercial lines, including property, BOP, commercial auto, workers' compensation, and general liability. We supply more than five years of claims history and 23 key elements with a 100 percent fill rate. Data is current: 90 percent is updated daily or weekly. You get actionable information in a standard format at point of sale, with peer benchmarking to provide incremental insights. Data is available through the ProMetrix® platform, either through the web in report format or our seamless API (application program interface).
Choose Verisk Insurance Solutions
Verisk has served the industry’s underwriting, rating, and claims needs for almost 45 years. We have extensive product knowledge and industry expertise across all lines and are uniquely suited to provide the data you need, the way you want it—fast, comprehensive, and reliable.
For more information about Commercial A-PLUS
- Call Verisk Customer Support at 1-800-888-4476.