Advancements in capturing mileage can refine a critical rating factor.
There’s a strong relationship between mileage and insurance claims. As annual mileage increases, so does loss frequency. Accurate mileage matters, but many insurers struggle to capture it. They may accept unreliable self-reporting by policyholders, use overly broad bands, or skip mileage altogether.
Verisk stands ready to help insurers obtain reliable mileage estimates at point of sale and renewal.
Retrieve mileage directly from the car, from reliable data sources, or from predictive modeling.
Use skilled customer outreach where self-reporting or other concerns call for validation.
Leverage Verisk’s unique data assets and analytics to better capture a critical rating factor.
Odometer readings from third-party data sources
Predictive mileage model