Who are you actually insuring? Underwriting commercial auto is challenging for insurers. Traditional rating factors like vehicle type, weights, and driving radius only go so far in helping insurers price and select the best risks for their portfolio. It’s imperative to know more about individual driver behavior to gain a holistic view of a commercial auto risk.
Our recently announced commercial auto data consortium consists of recent and detailed policy, vehicle, and claims data from 2005 – 2015. Additional data elements include regional demographic characteristics, Safety and Fitness Electronic Records (SAFER) inspection and crash information, vehicle size, trailer units and unit age. Forty-seven distinct garaging states are represented – including local, intermediate, and long driving distances.
As an analytics leader exclusively serving property and casualty insurers, we bring unparalleled market insight, analytic performance, and proprietary data assets that can address your top business priorities.
Give your underwriters modern tools to compete in a modern world.
The data shows that art + science = improved ROI. Check out this case study.
InsureRight Platform for Commercial Auto
It all starts with creating a unique database that combines your policy information with our data assets to support your business goals. Then, we build custom predictive models that give your underwriters real-time, data-driven insights when they quote new and renewal business.
You get performance reports that use predictive analytics as leading indicators so you can proactively manage your portfolio and achieve superior risk selection, pricing accuracy, throughput efficiency, and protection from adverse selection. See how we build custom analytic solutions from our proprietary data assets.
Know underwriting performance in advance and gain actionable insights
- Portfolio management analytics
- Real time, leading performance indicators
- State of the art visual analytics
- Interactive, drill down reporting dashboards
Know the risk quality of each policy in your portfolio
- Rank orders policies and premium on a risk quality scale (1-10)
- Predicts an individual policy’s loss ratio
- Identifies high-risk policies predicted to have 5x the future loss ratio of best performing policies
- Shows profitable policies within desired growth segments
The Valen Difference
- Leading provider of proprietary data to property/casualty insurers
- World class predictive modeling shop
- Speed – go live in 2-4 months
- IT backlog-proof – the lightest IT solution in the market
- Proven results