Personal auto insurance is set for a hard market in 2022 as claim frequency and severity rise amid inflationary pressures and risky driving.
Competition and growing digital information sources demand that auto insurers balance underwriting data consumption with cost efficiency.
Personal auto insurers had a year without precedent in 2020, and 2021 may break more new ground, but in very different ways.
How can auto insurance leaders adapt and stay competitive amid evolving pandemic-related trends? The key may be a digital ecosystem.
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.
Underwriting expenses can force auto and property insurers to choose between high costs that drain profitability and incomplete risk data.
Recently published case studies describe the journeys of four insurers with Verisk’s innovative personal and commercial auto solutions.
Verisk continues to watch personal auto insurance trends resulting from the COVID-19 pandemic and provide likely scenarios and guidance for the new normal.
The COVID-19 pandemic is bringing a “new normal” to personal auto insurance, with similarities and contrasts to the Great Recession.
An updated Verisk analysis shows that the elevated auto claim frequency and severity that emerged in 2014 and continued into 2015 did not subside in 2016.
A Verisk analysis reveals that misinformation about insured vehicles accounts for billions of dollars in premium leakage for personal auto insurers.
Misrepresented driver risks are the top overall source of premium leakage for insurers, accounting for $16.5 billion a year.
Verisk has added DL Verify, which verifies the validity of a driver's license, to help insurers combat the high cost of ordering MVRs while managing risk properly.
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.