If you’re familiar with GLM, Bailey’s methodologies, and the Tweedie distribution, where p = 1.67, then you may want to watch our web seminar on the Personal Auto Class Plan. If you don’t know about Tweedie — no, I don’t mean the little yellow bird — then you may need to watch the session. During [...]
Tagged as:
Auto insurance,
class plan,
drivers,
personal auto,
rating,
webinars
Out of curiosity, who knows what line of business you’ll find in Division 11 of ISO’s Commercial Lines Manual? If you’re like me, you probably don’t keep track of such things unless you have a reason to. Well, I now present you with a very good reason. Division 11 supports ISO’s Employment-Related Practices Liability Program, [...]
Tagged as:
claims,
commercial lines,
employment,
liability,
manual,
social media
An interesting case study from ISO is in the works. The headline is “Forty-Six States in Two Months: How One Insurer Implemented ISO’s Commercial Auto Rating in Record Time.” We’re still developing the final report, but already the findings are clear. The newly formatted ISO Rating Service® and ISO Electronic Rating Content algorithm files, which [...]
Tagged as:
algorithms,
auto,
automate,
commercial,
loss costs,
rating,
rules
As 2012 begins, we at Verisk are proud to be entering the fourth year of our Monday Web Seminar series. And we’re delighted to announce that Verisk Analytics President and Chief Operating Officer Scott Stephenson will lead off with his fourth annual Industry Outlook presentation. In this year’s session, Mr. Stephenson will assess industry developments [...]
Tagged as:
analytics,
data distribution,
digital,
technology
For the property/casualty insurance industry, 2011 was a remarkably “sharing” year. I don’t mean what you think. I’m talking about sharing on social media websites. Of the eleven most shared events during the year, three were directly related to property loss. The Japanese tsunami, Hurricane Irene, and the U.S. East Coast earthquake were major occasions [...]
Tagged as:
fraud,
Hurricane Irene,
rating,
smartphones,
social media,
underwriting
ISO Risk Analyzer Homeowners is a suite of predictive models that help insurers classify and segment risks. We offer the product in several modules. The first — the environmental module — produces expected loss costs for individual risks based on the environmental variables used in the model. In addition to loss costs for all perils, [...]
Tagged as:
homeowner's,
modules,
predictive analytics,
predictive models,
rating,
state filings
ISO has developed QC3 (Query Commercial Classification Code) — a quick online lookup tool for workers compensation and general liability classification codes. Developed with underwriters, agents, risk managers, and premium auditors in mind, this ISOnet service displays a report that cross-references the related workers comp, GL, NAICS and SIC codes. How does your business currently review the [...]
Tagged as:
agents,
GL codes,
ISOnet,
QC3,
risk manager,
underwriters,
workers comp
Each year, ISO submits thousands of regulatory filings that change our insurance programs. We annually review almost 15,000 bills, new laws, court cases, and regulatory actions. And that number is up by about 20 percent in just the last five years. To keep track of what’s going on, you need ISOnet — the information service [...]
Tagged as:
forms,
loss cost,
manuals,
webinars
The October 29 snowstorm on the East Coast reminded us that winter is fast approaching — and that none of us can know for certain what’s going to happen next. As described in Insurance Journal, insurers are already beginning to count claims from the highly unusual early storm, which lasted less than 20 hours but [...]
Tagged as:
catastrophes,
claims,
Hurricane Irene,
safety tips,
social media,
weather
Staying current with ISO content is a good thing. The effort it takes to stay current . . . not so much. So how can you stay current in a more work-friendly manner? Perhaps by having better documentation on your deviations? Or by having more flexible applications? And by using effective regression testing tools? Yes, yes, [...]
Tagged as:
ERC,
insurance programs,
rating,
webinars
