Company Announcements

Insurers Can Now Target Both Profitability and Growth with Enhanced Verisk Solution

Source: OMX
Insurers Can Now Target Both Profitability and Growth with Enhanced Verisk Solution

JERSEY CITY, N.J., Sept. 15, 2022 (GLOBE NEWSWIRE) -- Insurers looking to find opportunities for profitable growth amid economic volatility can now leverage new insights from Verisk (Nasdaq: VRSK), a leading global data analytics provider. Verisk has launched Profitability Advisor on the MarketStance Commercial Insight platform, further enhancing an already powerful commercial lines market analysis tool.

“Insurers have been looking for a solution like this for years,” said Eric Price-Glynn, who heads the Marketstance business for Verisk. “Our enhanced solution helps customers in their pursuit of profitable growth—not just premium growth—by helping them truly realize the power of industry loss data, coupled with our commercial lines forecast.”

Profitability Advisor:

  • Helps empower analysts to be able to determine which lines of insurance are driving U.S. profitability by market size segment, class of business, and location in four core lines of business—auto, general liability, property and businessowners.
  • Is based on up to ten years of commercial loss ratio data reported in Verisk’s own insurance database, one of the world’s largest data repositories.
  • Reports highly detailed loss ratios after critical adjustments for credibility and market composition, enabling customers to get right to work pursuing profitable growth, rather than tying up additional actuarial and modeling resources before using the product.

Profitability Advisor can be added to any new or existing MarketStance Commercial Insight subscription. Combined with Growth Advisor, Verisk’s premier premium and exposure base forecast for U.S. commercial lines, Profitability Advisor can help enhance the position of MarketStance Commercial Insight customers in their pursuit of profitable growth in these volatile times.

To learn more about Profitability Advisor, visit our webpage.

About Verisk

Verisk (Nasdaq: VRSK) provides data-driven analytic insights and solutions for the insurance and energy industries. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk empowers customers to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud, and make informed decisions about global issues including climate change and extreme events as well as political and ESG topics. With offices in more than 30 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.