Verisk Data Exchange

 
 
Many auto insurers view usage-based insurance (UBI) as an effective strategy to transform the entire customer experience—from purchase through renewal and claims. Direct measurement of driving behavior is the best predictor of loss experience, but implementing UBI programs is costly and challenging. The Verisk Data Exchange makes it easier, faster, and more efficient to enter a new era of auto insurance that better serves the customer and improves your bottom line.

Verisk Data Exchange Flow Chart

 

What Is the Verisk Data Exchange?

The first-of-its-kind Verisk Data Exchange draws driving data from all kinds of connected vehicles for underwriting, rating, and claims handling through UBI programs. The exchange is scalable to normalize, process, and store telematics data of all types, volumes, and velocity from connected cars, aftermarket hardware, or mobile solutions. Finally, one exchange solves the many-to-many challenge by connecting automakers and telematics service providers (TSPs) to multiple insurers.

A single source for driver and vehicle data can refine underwriting and rating—and provide prompt notice of losses to expedite claims settlement. The data capture and value-add capabilities provided by vehicle manufacturers and TSPs help to optimize insurance products and customer service.

Why Verisk?

As a global leader in risk assessment and data analytics services for more than 40 years, Verisk is uniquely positioned to provide a platform for a much-needed data exchange for driving and claims data.

  • Experience-based UBI models created with the industry’s largest database of premium and claims information
  • Predictive models for telematics data and UBI rating rules filed with regulators
  • Industry-proven scoring
  • Comprehensive offering with multi-source data
  • Verisk’s extensive underwriting and claims experience
  • Best-in-market data
  • Customizable API for easy integration
  • Stable and scalable storage


{loadmodule mod_custom, telematics_contact}