Equifax
Driving History Solutions for Auto Insurance Underwriting
Pages
3
Time to read
5 mins
Publication
Language
English
Pages
3
Time to read
5 mins
Publication
Language
English
This document is a guide detailing Verisk's Driving History Solutions, which aim to address the challenges faced by auto insurers in underwriting processes. It outlines the significant costs associated with identifying driver violations, which contribute to an estimated $4.7 billion in annual premium leakage. The guide presents a comprehensive suite of solutions that leverage public records intelligence to enhance risk assessment and improve underwriting efficiency. It describes how insurers can utilize data from over 2 billion public records, including traffic incidents and criminal records, to gain insights into driver behavior and optimize their MVR ordering processes. The document emphasizes the importance of timely data access, enabling insurers to anticipate risks and make informed decisions throughout the policy lifecycle. Additionally, it discusses the benefits of integrating these solutions into existing workflows to minimize unnecessary expenditures and enhance overall profitability.