MileageConfirm

Capturing mileage across a shifting auto insurance landscape

Mileage is gaining heightened awareness as driving patterns recover in the new normal. Precision is critical to align price to risk more accurately.

Advancements can help refine a critical rating factor

Odometer

Advancements can help refine a critical rating factor

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. Now—with MileageConfirm™—new technology, data sources, and analytics are changing the insurance landscape when it comes to accurately assessing risk.

Mileage and claims are strongly correlated

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All lanes are open to accurate mileage

Leverage Verisk’s unique data assets and analytics at both point of sale and renewal.

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Connected-car data

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Odometer readings from third-party data sources

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Predictive mileage model

The Challenge of Auto Insurance Premium Leakage

Verisk Insurance Solutions Challenge Of Auto Insurance Premium Leakage

Mileage-related premium leakage is a $5B annual industry problem. Our Innovation Paper explores key findings and insights to better align price to risk.

Download the Innovation Paper

Additional insights

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Capturing mileage across a shifting auto insurance landscape

One statistic profoundly affected by COVID-19 lockdowns has been miles driven, and so capturing mileage more precisely may become critical for auto insurers.

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The magnitude of the mileage problem in personal auto

Perception and reality often diverge when drivers estimate how many miles they drive in a year. Verisk’s 2018 Verified Mileage Study helps measure the difference: About…

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9 likely new-normal scenarios for personal auto insurance

As personal auto insurers navigate the coronavirus recession and recovery, complex social and economic trends appear set to shape the industry’s “new normal.”

Read the article 

Learn more about solutions for your line of business

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  1. Verisk analysis of ISO Statistical Plan data, March 2021; based on three-year average for all personal auto coverages from 2017-2019 and excluding 2020 to remove impact of pandemic on typical mileage patterns