JERSEY CITY, N.J., October 23, 2023 — Pearl Holding Group (PHG), a holding company and MGA for two nonstandard auto insurers is harnessing LightSpeed® from Verisk (Nasdaq: VRSK), a leading global data analytics provider, to help improve control and save money within its agent distribution channel.
PHG provides affordable auto insurance to the nonstandard market using Verisk’s LightSpeed for Personal Auto. By bringing pivotal underwriting analytics forward in a single data payload, LightSpeed can streamline workflows and help provide reliable quotes to consumers in seconds.
“PHG is driving auto insurance into the future. As nonstandard insurers look to improve accuracy while keeping costs down and providing affordable coverage, we can work more effectively with our independent agency channel,” said Alex Singletary, Vice President of Insurance Programs, of PHG “Verisk’s LightSpeed has shifted the economics of data usage, so we can capture robust insights upfront to help us assess risk, accurately rate, and improve our agent experience.”
LightSpeed is currently used by a range of insurers to help modernize insurance quotes.
“Delivering a robust data payload at the front end of the process is a cost-effective strategy that can help insurers to harness automated workflows, quickly segment risk, and improve the agent experience,” said Joe Wodark, vice president of auto insurance underwriting solutions at Verisk. “With Verisk’s technology and pricing flexibility, PHG is lowering its cost per acquisition while helping more consumers obtain coverage quickly and easily.”
To learn more about Verisk’s personal auto solutions, visit verisk.com/personalauto.
Verisk (Nasdaq: VRSK) is a leading strategic data analytics and technology partner to the global insurance industry. It empowers clients to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global risks, including climate change, extreme events, ESG and political issues. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk helps build global resilience for individuals, communities and businesses. With teams across more than 20 countries, Verisk consistently earns certification by Great Place to Work and fosters an inclusive culture where all team members feel they belong. For more, visit Verisk.com and the Verisk Newsroom.
About Pearl Holding Group
Pearl Holding Group (PHG) is a managing general agent and holding company that has been operating in the state of Florida since 1991. PHG represents Ocean Harbor Casualty Insurance Company and Equity Insurance Company. PHG companies specialize in personal auto insurance with basic limits, providing consumers with a solid value for their insurance dollar. Pearl Holding Company consistently delivers outstanding quality and service to customers and agents. All policies are sold exclusively through independent licensed professional agents who offer knowledgeable advice and guidance to select the best combination of insurance coverages and costs to meet individual needs. For more information, visit Pearlholding.com.