Accelerators speed submission of personal auto and property loss history data to Verisk
JERSEY CITY, N.J., Feb. 06, 2020 (GLOBE NEWSWIRE) -- Verisk (VRSK), a leading data analytics provider, has joined with Guidewire, provider of the industry platform that property/casualty insurers rely upon, to publish the A-PLUS™ auto and property contribution accelerators for personal lines. The Ready for Guidewire validated accelerators enable Guidewire customers to easily submit loss history data to Verisk and unlock access to innovative tools that insurers can use to verify past claims activity, make informed pricing decisions, and improve customer satisfaction.
With the A-PLUS auto and property contribution accelerators for personal lines, insurers can contribute loss history information to Verisk in the preferred A-PLUS format from within Guidewire ClaimCenter. Data within the Guidewire system is automatically mapped to the A-PLUS record layout, saving insurers the time and expense of manually formatting and uploading this data to Verisk.
The new accelerators build on several Verisk data tools already available for users of Guidewire InsuranceSuite and A-PLUS auto and property. Guidewire customers that submit loss history data to Verisk are immediately eligible to purchase the A-PLUS auto and property data ordering service and quickly access loss history data from Verisk using existing accelerators from the Guidewire Marketplace: A-PLUS Auto for PolicyCenter and A-PLUS Property Integration for PolicyCenter.
In addition, new contributing carriers will be able to take advantage of the A-PLUS Claims Activity Profiler, which enables insurers to optimize loss history report costs via an innovative point-of-quote indicator of an applicant’s existing claims history. The claims history solution can help reduce new business acquisition costs by alerting insurers early in the quoting process to the presence of claims, giving them the option to order a detailed loss history report. If the solution indicates that a prospective customer has no claims, the insurer can decide to avoid the expense of ordering a full loss history report.
“It’s critical for insurers to streamline their workflows and focus development efforts to maximize their return on investment,” said Doug Caccese, president of personal lines at ISO, a Verisk business. “The new A-PLUS auto and property contribution accelerators for personal lines make it easy for Guidewire customers to contribute loss information to Verisk in a streamlined manner and gain timelier access to innovative tools, like Claims Activity Profiler, that can help them make more informed pricing decisions.”
Verisk is a member of the Guidewire PartnerConnect Solution program, a network of select companies that provide complementary software, technology, data, and insurance support solutions to enhance and extend the capabilities of Guidewire products. Guidewire is also a member of Verisk Strategic Alliances and licenses a wide variety of ISO data, information, and related products.
The A-PLUS auto and property contribution accelerators for personal lines are available now in the Guidewire Marketplace.
For more information on A-PLUS Auto, visit www.verisk.com/aplus.
Verisk (VRSK) is a leading data analytics provider serving customers in insurance, energy and specialized markets, and financial services. Using advanced technologies to collect and analyze billions of records, Verisk draws on unique data assets and deep domain expertise to provide first-to-market innovations that are integrated into customer workflows. Verisk offers predictive analytics and decision support solutions to customers in rating, underwriting, claims, catastrophe and weather risk, global risk analytics, natural resources intelligence, economic forecasting, and many other fields. Around the world, Verisk helps customers protect people, property, and financial assets.
Headquartered in Jersey City, N.J., Verisk operates in 30 countries and is a member of Standard & Poor’s S&P 500® Index. In 2018, Forbes magazine named Verisk to its World’s Best Employers list. For more information, please visit www.verisk.com.
Edelman (for Verisk)