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
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.
Case study: Insurer gains potential 7.2% lift
Learn how better data and advanced modeling can identify mileage gaps and recover missing premium.
Mileage and claims are strongly correlated
All lanes are open to accurate mileage
Leverage Verisk’s unique data assets and analytics at both point of sale and renewal.
Connected-car data
Odometer readings from third-party data sources
Predictive mileage model
The 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.
Additional insights
Unpacking the 2021 new normal for personal auto mileage
Personal auto mileage has fluctuated widely through the pandemic and the emerging new normal. It may be time for insurers to leverage analytics to avoid premium leakage.
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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 articleComplementary solutions
- 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