A Verisk study showed that commercial auto insurers will lose $6.4 billion in premium leakage over a four-year period—and that’s just due to radius misclassification.
Of the 23 percent of vehicles reported outside radius, 16 percent were outside radius more than two-thirds of the time.
Targeting these worst offenders can address nearly 69 percent of the overall loss.
With most commercial vehicles classified as local radius, how do commercial auto insurers confirm where those vehicles actually operate? Learn how Verisk's RadiusCheck™ leverages technology to help uncover the truth and reduce radius misclassification.
Our commercial auto underwriting tools come together to fundamentally change your underwriting process, bringing speed, accuracy, efficiency and ease of use. We have all the data you need. Watch to learn more about our solutions.
Commercial auto underwriting losses are growing 16.2 percent annually. But some insurers are thriving—and making handsome profits. Here’s what they’re doing differently.Read the article
Verisk’s report provides an analysis of the causes, scope, and remedies for the problems plaguing many insurers in the commercial auto market.Read the article
You will soon be redirected to the 3E website. If the page has not redirected, please visit the 3E site here. Please visit our newsroom to learn more about this agreement: Verisk Announces Sale of 3E Business to New Mountain Capital.