Verisk's motor vehicle report accelerator receives Ready for Guidewire designationBy Visualize Editor | January 30, 2019
Verisk and Guidewire Software, Inc., provider of the industry platform property and casualty insurers rely upon, recently announced that Verisk's motor vehicle report (MVR) accelerator has received the Ready for Guidewire designation. The integration enables mutual Verisk and Guidewire customers to easily order motor vehicle reports on current and potential policyholders and receive customized updates on adverse changes to their driving history.
Easier to order MVRs
With the accelerator, insurers can order MVRs from Verisk through Guidewire PolicyCenter™, with minimal investment of time and resources for implementation. Insurers will also have access to Verisk's wide array of cost containment tools with a flexible setup to facilitate the integration.
An updated driving history is critical information in assessing and pricing auto insurance. It's one of the most valued pieces of data used in the underwriting process and can be a large part of an insurer's underwriting expenses. With the new integration, insurers that use Guidewire can manage MVR costs while keeping track of changes in driving activity that could lead to premium adjustments at midterm or renewal.
Streamlined access to underwriting, claims products
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, ISO ClaimSearch®, and Coverage VerifierSM. These tools are part of Verisk's ongoing strategy to provide content through Guidewire InsurancePlatform™. 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™).