Determining or verifying key risk characteristics of insured property or vehicles can be costly, labor-intensive, and time-consuming.
Verisk has seen a marked increase in insurers seeking strategic sourcing of non-rate actions to confront premium leakage in 2023.
Non-rate actions that don’t require a rate filing are one of the fastest ways to help with insurers’ profitability during a hard market.
With concept search, preferred wordings, and workflow enhancements, Mozart helps to easily find & update forms.
Auto History Score is purpose-built using modeled data, correlated with future claims, to help auto insurers refine rating segmentation.
Personal auto insurance is set for a hard market in 2022 as claim frequency and severity rise amid inflationary pressures and risky driving.
How connected cars, smart homes, and electric vehicles could impact personal lines insurance carriers and agents.
Personal lines insurers seek fast quoting for better customer experiences (CX), but they also need rigorous cost and underwriting controls.
Competition and growing digital information sources demand that auto insurers balance underwriting data consumption with cost efficiency.
Increasing speed is becoming the norm for auto insurance quotes, driving digital transformation and data-forward strategies.
Undisclosed drivers cause the most premium leakage in auto insurance, but data across the policy life cycle can help tackle the problem.
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.
The cost of motor vehicle reports (MVRs) continues to climb for insurers; the latest Verisk analysis shows the nationwide average at $10.32.
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