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Renewal Analytics

August 5, 2020

Capturing mileage across a shifting auto insurance landscape

One statistic profoundly affected by COVID-19 lockdowns has been miles driven, and so capturing mileage more precisely may become critical for auto insurers.

November 16, 2017

You’ve changed: Life events fuel premium leakage

Like any long-term relationship, the one between an insurer and a policyholder is bound to evolve as circumstances change. Events in the customer’s life—marriage,…

November 1, 2017

Flood titles: In the wake of hurricanes

As Gulf Coast communities from Texas to the Florida Keys begin a years-long recovery from the onslaughts of hurricanes Harvey and Irma, another surge is on the way. This…

September 28, 2017

Mileage drives $5 billion in annual premium leakage

Underreported mileage is a major factor in claim volume, driving more than $5 billion each year in premium leakage.

September 26, 2017

Defining the nuances of data, information, and knowledge

Data-driven, big data. Knowledge worker, knowledge management. Information economy, information age. Such terms are tossed around all the time, but what do they really…

September 6, 2017

Auto frequency, severity: Woes persist

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.

August 30, 2017

Avoid vehicle errors to curb premium leakage

A Verisk analysis reveals that misinformation about insured vehicles accounts for billions of dollars in premium leakage for personal auto insurers.

August 15, 2017

For actionable building information, you need to COPE

There’s a lot of information one can gather on a building or commercial property. Regardless of the perils being considered, the more reliable and precise that…

August 1, 2017

Garaging errors: A significant cause of premium leakage

A Verisk analysis found more than 10 percent of auto policies had verifiable garaging address defects—and that adds up to $3 billion in annual premium leakage.

June 7, 2017

The mystery of deteriorating loss ratios

A new Verisk Innovation Paper, Application Integrity: The Whole Truth, explores the mystery of three large personal automobile insurance carriers that were struggling…

May 4, 2017

Mispriced driver risk: A leading source of premium leakage

Misrepresented driver risks are the top overall source of premium leakage for insurers, accounting for $16.5 billion a year.

March 7, 2017

Auto insurance premium leakage: A $29B problem for the industry

This is the first article in a multi-part series based on the Innovation Paper from Verisk Insurance Solutions, The Challenge of Auto Insurance Premium Leakage

November 3, 2016

Personal lines transformation: underwriting in the age of innovation

Precision technologies are making information for underwriting decisions more abundant and accessible than ever before, with predictive analytics multiplying the power of…

October 7, 2016

For insurers, risk management as important as retention efforts

Many auto insurance companies focus on retention to combat reductions in premium, but they shouldn't neglect risk management.

September 7, 2016

How do motor vehicle report fees affect insurers?

A Verisk analysis finds that motor vehicle report (MVR) fees have increased an average of almost 50 percent during the past ten years and discusses ways for insurers to…