In today’s highly competitive market, it’s critical for insurers to focus on development efforts that yield the highest return on investment and improved experience for insureds. Verisk's Coverage Verifier™ contribution accelerator, which has received the Ready for Guidewire designation, can help support this objective.
The accelerator enables mutual Guidewire/Verisk customers to easily submit auto coverage history data to Verisk and gain access to tools that insurers can use to verify coverages of policyholders and make more informed pricing decisions. It also aims to make it easy for Guidewire customers to contribute their policy information to Verisk and gain access to a wide variety of Coverage Verifier products and services that help improve efficiency and minimize risk.
With the accelerator, insurers can contribute coverage information to Verisk—in the preferred Coverage Verifier format—from within Guidewire PolicyCenter™, with minimal investment of time and resources for implementation.
Data automatically mapped
Data within the Guidewire system is automatically mapped to the Coverage Verifier record layout, requiring little or no development time by the insurer for this “out of the box” solution. Joint Verisk and Guidewire customers that submit coverage data can also use the Coverage Verifier ordering accelerator—added last year—to quickly request and order coverage history data from Verisk.
The new accelerator is one of several solutions in the Guidewire Marketplace that provide streamlined accessibility to Verisk underwriting and claim products, including A-PLUS™ Auto and Property and ISO ClaimSearch®, and are part of Verisk’s ongoing strategy to provide content through the Guidewire platform. Verisk and Guidewire customers can also stay current with the latest ISO commercial lines rules and advisory loss costs with automatic updates from ISO Electronic Rating Content™ (ERC™).