Mileage is gaining heightened awareness as driving patterns recover in the new normal. Precision is critical to align price to risk more accurately.
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.
Leverage Verisk’s unique data assets and analytics at both point of sale and renewal.
Odometer readings from third-party data sources
Predictive mileage model
Mileage-related premium leakage is a $5B annual industry problem. Our Innovation Paper explores key findings and insights to better align price to risk.
One statistic profoundly affected by COVID-19 lockdowns has been miles driven, and so capturing mileage more precisely may become critical for auto insurers.Read the article
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…Read the article
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