Renewal Analytics

Undisclosed Drivers In Insurance Portfolios

12/6/2021 - 3 min read

Identify hidden drivers throughout the policy life cycle

Undisclosed drivers cause the most premium leakage in auto insurance, but data across the policy life cycle can help tackle the problem.

9/30/2021 - 4 min read

Accelerating competitiveness with a digital auto insurance ecosystem

How can auto insurance leaders adapt and stay competitive amid evolving pandemic-related trends? The key may be a digital ecosystem.

9/14/2021 - 8 min read

Unpacking the 2021 new normal for personal auto mileage

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.

8/20/2021 - 2 min read

Steady increases continue for motor vehicle report fees

The cost of motor vehicle reports (MVRs) continues to climb for insurers; the latest Verisk analysis shows the nationwide average at $10.32.

8/5/2020 - 4 min read

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.

11/16/2017 - 1 min read

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, divorce, new job, relocation, or driving-age children—alter the risk. And that contributes to the $29 billion annual problem of premium leakage for auto insurers.

11/1/2017 - 3 min read

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 one is not rising water; it’s salvage vehicles that were totaled in the storms’ flooding and may be dumped back on the market by the thousands after being rebuilt—or just dried out.

9/28/2017 - 3 min read

Mileage drives $5 billion in annual premium leakage

9/26/2017 - 3 min read

Defining the nuances of data, information, and knowledge

9/6/2017 - 9 min read

Auto frequency, severity: Woes persist

8/30/2017 - 2 min read

Avoid vehicle errors to curb premium leakage

8/15/2017 - 4 min read

For actionable building information, you need to COPE

Insurers need high-quality information on construction, occupancy, public and private fire protection, and exposure—otherwise known as COPE.

8/1/2017 - 3 min read

Garaging errors: A significant cause of premium leakage

6/7/2017 - 3 min read

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 with rapidly deteriorating loss ratios.

5/4/2017 - 3 min read

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.