Personal auto insurance is set for a hard market in 2022 as claim frequency and severity rise amid inflationary pressures and risky driving.
Rating-as-a-Service (RaaS) allows insurers to receive Verisk’s ISO Electronic Rating Content (ERC) with a cloud-based API.
Personal lines insurers seek fast quoting for better customer experiences (CX), but they also need rigorous cost and underwriting controls.
Homeowners insurers and their customers in Florida are navigating a turbulent market, and roof coverage figures prominently in the turmoil.
Competition and growing digital information sources demand that auto insurers balance underwriting data consumption with cost efficiency.
Automated underwriting can help homeowners insurers be thorough, consistent, and fast with timely, actionable data and analytics.
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.
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.
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