ISO Launches New Personal Property Solution That Appeals to Today’s Millennial Customer
New stand-alone coverage introduced under personal inland marine program
JERSEY CITY, N.J., Sept. 27, 2018 — ISO, a Verisk (Nasdaq:VRSK) business, has launched a new personal inland marine solution to help insurers meet the personal property coverage needs of millennials and other consumers who may not stay in one place for long.
The new Your Belongings solution enables insurers to offer coverage on personal possessions for policyholders while anywhere in the world. The coverage is designed for growing segments of the population, from millennials to empty nesters, who are living more mobile lifestyles and don’t feel they need traditional homeowners or renters insurance.
“There’s a need for new solutions for today’s customers—those who lead a less traditional lifestyle and don’t put down roots in one place,” said Doug Caccese, president of ISO Personal Lines. “But these customers still need coverage for items that travel with them, including their clothing, jewelry, and personal electronics. The Your Belongings coverage gives insurers an opportunity to earn customer loyalty by providing critical protection at every stage of their journey.”
This solution follows ISO’s introduction of a personal property endorsement for personal auto policies, which meets drivers’ needs to cover their possessions when they may not have homeowner or renters insurance coverage. Your Belongings contains long-standing policy language and flexible coverage limits for many perils a policyholder may face, and it’s backed by ISO’s experience and reliability in designing programs. ISO has filed the new coverage in the majority of states and will continue through the remainder of 2018.
For more information about the Your Belongings coverage and ISO solutions for millennials, visit verisk.com/millennials.
ISO, a Verisk (Nasdaq:VRSK) business, is a leading provider of advanced tools and analytics for the property/casualty insurance industry. Drawing on unique data assets and deep domain expertise, ISO products and services help insurers underwrite and price risks with greater precision and efficiency and manage claims more effectively across the spectrum of commercial and personal lines of insurance. For nearly 50 years, ISO has been a leader in developing innovative solutions and working with multiple stakeholders in the property/casualty insurance marketplace, including insurers, reinsurers, third-party administrators, agents and brokers, insurance regulators, and risk managers. For more information, please visit www.verisk.com/iso.
Edelman (for ISO)