It's a Tough Climate for the Commercial Auto Insurance Industry.
Carriers have faced over a decade of increasing loss ratios due to social inflation, post-pandemic inflation, the increase in risky driver behavior and much more. As they struggle with shrinking profitability margins, many turn to what they believe to be cost-saving strategies, such as:
- Limiting the assessment of a commercial policyholder’s risk to new business or renewal
- Only running MVR (motor vehicle record) checks on a small subset of drivers during the quoting stages
- Operating with a lack of insight across their book of business post-bind
These approaches actually limit a carrier's access to critical data that's needed to accurately price and mitigate risk.
With insurance losses increasing faster than premiums, how can carriers combat these growing challenges and remain competitive?
In our white paper, Can Deeper Data Insights Save the Commercial Auto Industry, you'll discover how having access to the right data at the right time is key to staying relevant in a persistently hard market.
You'll discover:
- The costly effects of implementing strategies that limit access to critical data
- The importance of capturing the complete customer picture with the right data, sooner
- The long-term benefits of teaming with policyholders to close gaps in risk visibility post-bind
- Expert strategies carriers can implement to increase profitability and price risk competitively
Get your free copy of the white paper today!
