Powered by innovation and bolstered by industry expertise and unmatched data and analytics, LightSpeed® Small Commercial enables automated underwriting without sacrificing the risk insights that help you compete and grow a profitable book of business.
Small business risk exposures can lie in plain sight, but without the right technology, you may never find them.
That’s why we built LightSpeed® Small Commercial.
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
Traditional prefill reveals only part of the story for assessing risk exposure. A rich source of information lies in unstructured data, including webpage text, social media posts, images, and video. Analyzing this data can enable straight-through processing by answering critical underwriting questions up front.
Providing a highly accurate quote in minutes with just a business name and address is the goal. Reaching it requires robust data and risk insights that can help insurers capture new business, retain customers, and become the carrier of choice in the competitive small commercial marketplace.
Manual underwriting requires time and effort to verify application details, research potential exposures, and follow up with customers and agents. Are you looking for a tool that can help boost profitability by saving time, a type of time (saving) machine? Look no further.
Insurers can meet customer expectations for speed without sacrificing underwriting accuracy by integrating reliable data and advanced analytics into their workflow to win the race to zero questions.
What can artificial intelligence (AI) and machine learning (ML) do for your small commercial insurance business? From creating new sources of underwriting insight to unleashing operational efficiencies, the promise of AI/ML is immense. Gain a deeper understanding of how these innovative technologies can be applied in insurance and see what the future may hold.
Image analytics is helping to transform data-driven underwriting for small commercial insurers, who are under tremendous competitive pressure to increase market share and improve the customer experience. Along with other robust data sources, image analytics can help empower automated underwriting by using computer vision and machine learning to extract actionable insights that can reveal the full range of an insured’s business operations.
Fast, reliable quoting can be easier when you cut through the noise to reveal data that delivers valuable underwriting insights to eliminate most underwriting questions.
Tap into complete business profiles that help uncover full hazard, exposure, and operational information for cleansing portfolios, aligning coverage, and pricing with exposure-based or actuarially modeled risk correlations.
Want to learn more about how Verisk can help you capitalize on the growing small commercial market?
Verisk’s value extends beyond data accuracy. It’s part of the engine allowing us to bring tailored coverages to small businesses.
- GILD Insurance
Leverage the pre-built integration for LightSpeed Small Commercial with Duck Creek to help support seamless workflows.
Prefill application details, amplified with analytics, can fuel small commercial underwriting automation by tapping unstructured dataRead the article
Automated underwriting requires high-quality data. The quote must be informed by a holistic view of the applicant’s risk profile.Read the article
Learn how artificial intelligence helps small commercial insurers unlock powerful new data sources and game-changing workflow efficiences.Read the article
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Helping insureds improve their risk and lower projected loss costs is a powerful way to get an edge on your competition.
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