Verisk has been closely monitoring new-normal trends for the U.S. personal auto insurance market; there's a lot to unpack around mileage.
The cost of motor vehicle reports (MVRs) continues to climb for insurers; the latest Verisk analysis shows the nationwide average at $10.32.
Auto insurers seeking to grow and improve may do well to pursue underwriting technology that meets the demands of today and tomorrow.
Verisk has dramatically expanded the available consumption models for ISO rating content, including a new cloud-based “Rating as a Service,” or RaaS, model.
Harnessing unstructured data introduces more data points, granular information, and timeliness to help insurers underwrite with greater speed and accuracy.
Application integrity for personal auto insurance has deteriorated more than 20 percent over the past eight years, according to Verisk research.
Geodemographic segmentation gains traction as a way for insurers to identify groups that share similar characteristics for market analysis and decision-making.
An insurer used Verisk's Vehicle Registration Reports solution to correct vehicle data by leveraging already available information to improve their book's data accuracy.
Leveraging with ISO ERC, Vehicle Prefill, and RACA, insurers can more quickly develop and introduce new products with speed, efficiency, confidence and results.
The lack of relevant and credible cyber insurance data remains a huge challenge for the London Market, making it difficult for companies to make informed decisions around…
Average fees for motor vehicle reports (MVRs) continue their upward march, according to the latest Verisk analysis reaching $10.14 as of August 1, 2020.
One statistic profoundly affected by COVID-19 lockdowns has been miles driven, and so capturing mileage more precisely may become critical for auto insurers.
As the FCA signposting rules encourage insurers to direct potential business elsewhere, insurers may need to re-evaluate their cover.
The COVID-19 pandemic is bringing a “new normal” to personal auto insurance, with similarities and contrasts to the Great Recession.