Verisk LightSpeed Accelerator Added to Guidewire Marketplace Enabling Personal Auto Insurers to Transform Customer Experience...
June 28 2021 - 9:00AM
As the pandemic has raised consumers’ digital expectations,
personal auto insurers now have an easier way to bring faster,
single-step, point-of-quote experiences to many shoppers — in two
minutes or less. Verisk (Nasdaq:VRSK), a leading global data
analytics provider, and Guidewire, the platform Property/casualty
insurers trust to engage, innovate, and grow efficiently, have
added LightSpeed® Personal Auto to the Ready for
Guidewire-validated accelerators available from Verisk in the
Guidewire Marketplace.
This Ready for Guidewire-validated accelerator uses data
resources and predictive analytics to give insurers real-time
prefill data on drivers, vehicles, coverages, licensing, violations
and losses. The raw data is scored for thoroughness and potential
fraud to help keep more risk-appropriate quotes active in the sales
funnel.
LightSpeed Personal Auto combines Verisk’s extensive data
resources and groundbreaking predictive analytics, bringing key
decision points further forward in the insurance underwriting
workflow. Users can apply precise business rules to each
transaction, and the solution is backed by Verisk’s RISK:check®
Point of Sale, improving application integrity and combatting
premium leakage from underwriting fraud.
LightSpeed Personal Auto offers insurers multiple
benefits and efficiencies
- Get underwriting and rating data at quote start
- Keep more opportunities active in the sales pipeline
- Enhance satisfaction and the buyer experience
- Gain access to value-matched economics that help optimize
acquisition costs
LightSpeed Personal Auto is configurable and designed to help
insurers boost conversion rates.
“Auto insurers are striving to keep pace with buyer expectations
for smooth online transactions. A typical quote can involve dozens
of questions and take more time than buyers want to spend, often
resulting in dissatisfaction and lost business,” said Doug Caccese,
president of personal lines at ISO, a Verisk business. “This
accelerator gives Guidewire customers access to a powerful Verisk
tool that helps them boost efficiency, better serve customers and
guard against fraud, all on a platform they already know.”
Verisk is a Premier member of the Guidewire PartnerConnect
Solution program, and Guidewire is a member of Verisk Strategic
Alliances. Verisk offers a wide variety of data, information, and
related products and services for insurers, agents, brokers,
independent adjusters and others.
The LightSpeed Personal Auto Accelerator is one of 14
accelerators available now in the Guidewire Marketplace. Through
Guidewire, insurers can access a wide range of Verisk data
including driving histories, claim activities, evaluations of local
fire protection capabilities and insights on building code
enforcement.
For more information on LightSpeed Personal Auto, visit
https://www.verisk.com/insurance/products/lightspeed/.
About Verisk Verisk (Nasdaq:VRSK) provides
predictive analytics and decision-support solutions to customers in
the insurance, energy and specialized markets, and financial
services industries. More than 70 percent of the FORTUNE 100 relies
on the company’s advanced technologies to manage risks, make better
decisions, and improve operating efficiency. The company’s analytic
solutions address insurance underwriting and claims, fraud,
regulatory compliance, natural resources, catastrophes, economic
forecasting, geopolitical risks, and environmental, social, and
governance (ESG) matters. Celebrating its 50th anniversary, the
company continues to make the world better, safer and stronger and
fosters an inclusive and
diverse culture where all team members feel
they belong. With more than 100 offices in nearly 35 countries,
Verisk consistently earns certification by Great Place to
Work. For
more: Verisk.com, LinkedIn, Twitter, Facebook,
and YouTube
Media Contact:Ali Krueger Herbert
551-204-6592ali.krueger@verisk.com
Verisk Analytics (NASDAQ:VRSK)
Historical Stock Chart
From Mar 2024 to Apr 2024
Verisk Analytics (NASDAQ:VRSK)
Historical Stock Chart
From Apr 2023 to Apr 2024