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New Case Studies: Regional Auto Insurers Compete on a Larger Stage

July 6, 2022 by Verisk

Regional insurers—including those that are new to the market or early in their growth journey—need to create connected experiences to meet the needs of modern insurance buyers. New case studies from Verisk document two recent examples of overcoming challenges and getting results.

Meeting the challenges of digital transformation

Case study #1: One of the fastest-growing nonstandard insurers sought additional growth opportunities by establishing a new direct channel. The needs were to:

Expand geographic footprint, quote more business, boost conversion rates, and lift the customer experience
Detect fraud and premium leakage at quote and connect to critical underwriting data and analytics cost-effectively
Integrate seamlessly with a digital ecosystem for actuarial consulting and comprehensive data-forward solutions

Case study #2: An innovative, inclusive, tech-enabled managing general agent, serving customers in the Latino market who may be locked out of traditional auto insurance channels, launched an initiative that demanded quick turnaround. The needs were to:

Create a new, transparent, and affordable auto insurance product that would provide balanced coverage options to its prospects and a basis for planned expansion
Remove the need for traditional brick-and-mortar transactions by providing its mobile-savvy customer base with access via web and smartphone
Provide free, around-the-clock quoting with just three kinds of applicant information: ZIP code, car, and driver details

Learn more about how industry trailblazers overcame these challenges to enhance customer experiences, boost conversion rates, and achieve profitable growth. Download How Simplified Integration Elevated Digital Quoting for Two Regional Auto Insurers.

By David Ayers

David Ayers, Director of Data Services at Verisk, is responsible for product development and innovation within the auto underwriting and point-of-sale space, including LightSpeed^® for Personal Auto. Before joining Verisk, he had 17 years’ experience working at insurers in product management, pricing, underwriting, and claims, with a focus on new product development and automation.