Skip to Main Content
VISUALIZE | INSIGHTS THAT POWER INNOVATION

Get a head start on your strategic planning for 2022 and beyond

Strategy must reflect a deep understanding of your markets, where those markets are likely to move in the future, and how taking steps to sustain your competitive advantages today will be essential for profitable growth tomorrow.

Commercial Lines Strategic Planning With Iso Products

Whatever goal you set begins from a strong understanding of markets and where your company, your products, and your capabilities fit in among the competition.

Perhaps your strategy leads you to target new market segments or refine existing ones. Maybe your strategy requires pricing refinements based on the most comprehensive market data available.

Whatever goal you set begins from a strong understanding of markets and where your company, your products, and your capabilities fit in among the competition.

But how do you achieve a deep understanding of your markets?

In our latest webinar, "Commercial Lines Strategic Planning with ISO Products," we describe three Verisk solutions that can enable deeper comprehension of industry markets, relative performance, future growth, and benchmarking against peers during your strategic planning process. 

How Verisk can help

Fortunately, there are solutions designed to help formulate strategies and act on them:

  • MarketStance can help with the all-important decisions about commercial lines appetite, as you determine when and where to enter and exit market segments by line of business, size, class, and location with premium forecasts and profitability estimates in several core lines.
  • DataCube provides aggregated premium and loss data to help inform pricing and profitable growth strategies for actuaries, products, lines of business, and research and development.
  • Property Size-of-Loss Database (PSOLD) and Casualty Size-of-Loss Matrix (SOLM) are designed for market analytics, providing extensive, unmatched data for models and benchmarking purposes. There are multiple use cases within the models to enhance internal discussions between management, underwriters, and actuaries.

Some potential pairings and opportunities for strategic objectives include:

  • Use MarketStance, DataCube, PSOLD, and SOLM to help improve profitability
  • Support efforts to increase revenue using MarketStance, and analyze loss experience using DataCube, PSOLD, and SOLM
  • Benchmark rates with DataCube, PSOLD, and SOLM
  • Help determine potential agent incentives using MarketStance
  • Manage concentrations using MarketStance
  • Improve exposure management with MarketStance, PSOLD, and SOLM

Now is the time to get started on your planning and objectives for 2022 and beyond. After the uncertainty of 2020 and the adjustment period of 2021, seize the opportunity to reform your business practices and end reactionary decision-making.  To accomplish your goals, it's imperative to leverage every resource at your disposal – and Verisk solutions like MarketStance, DataCube, PSOLD, and SOLM can all work with you to help achieve these targets. Learn more from our webinar, "Commercial Lines Strategic Planning with ISO Products," available now.


Eric Price-Glynn

Eric Price-Glynn is senior principal and head of ISO MarketStance solutions. He can be reached at eglynn@verisk.com.

Gary Cornbrooks

Gary Cornbrooks is a sales executive at Verisk. He can be reached at gcornbrooks@verisk.com.


Visualize Subscribe

Get the best of Visualize!

We'll send Visualize Monthly, and our most popular content, right to your inbox.

Subscribe now