Swiss Re partners with Verisk to boost performance of auto insurers
Reinsurer Swiss Re has partnered with data analytics provider Verisk in a move designed to help auto insurers improve the performance of their existing books and unlock new business opportunities.
Swiss Re is using Verisk’s ISO DataCube, a tool that provides aggregate premium and loss experience data by line of business, to deliver customised data sets and bespoke analysis to companies, helping them make “smarter underwriting, distribution and marketing decisions and increase profitability”.
Impact+, Motor Insights and other data analytics solutions from Swiss Re are designed to help companies more effectively identify trends, adapt their strategies and product development, benchmark performance against peers or the market and grow in a strategic way.
“To grow in a sustainable way, insurers need speed to market and the ability to benchmark and focus on their competitive strengths,” said Duare Perez (pictured), head of P&C analytics Americas at Swiss Re. “By partnering with Verisk, we're delivering industry-leading data to our clients' doorstep that they'll use to their advantage."
Elliot Burn, vice president and head of actuarial and data products for commercial lines at Verisk, said: “We're excited to team with Swiss Re in leveraging the predictive power of aggregated insurance data. In a data-rich world, we're changing the game so companies can write better business and write business, better. It's a powerful proposition.”
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