prometrix for agents

ProMetrix for Agents


Commercial Lines Conversations: Agent Challenges

Speed to market with accurate pricing is vital for agents. You need to provide information fast for underwriting and quoting coverage or lose out to the competition. Our ProMetrix® for Agents suite of reports and services has the loss cost, rating, and risk selection information you need to get quotes to customers and information to insurers quickly.

When quoting a commercial property, there are many important factors to consider. Our experience tells us you face many challenges and Verisk’s solutions can help you mitigate hazards, reduce deficiencies, and improve your bottom line.

You need to quote coverage fast and accurately — or lose out to the competition. Verisk’s 360Value® Estimated Replacement Cost Valuation quickly provides reliable insurance-to-value estimates for your properties. It’s just one of the many tools we offer to help you develop the right loss estimates for policies.

You need to quote coverage for a commercial property fast or lose out to the competition. The reliable analytics in Verisk’s Building Overview Report help you verify the accuracy of information you get from municipal tax assessor databases about construction, square footage, and number of stories. The report, available through the ProMetrix® for Agents platform, provides much more.

Agents can immediately gain a competitive advantage when you understand which properties fit your insurers’ underwriting guidelines and which require more intensive review. Verisk’s Building Underwriting Report provides extensive information on the construction, occupancy, hazards, fire protection, and applicable wind exposure of any risk in the ProMetrix® commercial property database.

In a fast-paced market, you need to respond to new business opportunities even when there’s limited information available. Verisk’s Estimated Loss Cost Quote Report gives you a quick, simple, and economical way to estimate both class-rated and specifically rated commercial loss costs quickly and confidently — avoiding a straight declination or losing out to the competition.

A filed loss cost is a powerful driver of underwriting and pricing. It helps determine a competitive quote and adequate premium for your insurers. But that same loss cost may limit your options to improve either quotes or premiums. Our Loss Cost Quote Report helps you beat the competition with reliable loss cost, rating, and risk selection information.

Understanding undisclosed risks is vital to quoting a commercial property accurately. Often, unknown or incomplete information proves costly. You need reliable data on past and future site-specific weather events, prior incidents that didn’t result in filed claims, and potential risks from neighboring properties. Verisk’s Peril and Incident Report gives you a complete picture of a property’s risks, allowing you to quote more precisely.

Speed to market with accurate pricing is vital for agents, but sometimes a detailed report based on an on-site inspection isn’t available. However, reliable information that’s specific to your insurer’s needs is still critical. That’s why we offer Verisk’s Property Details Report, a street-level, exterior-only building survey by a trained Verisk field analyst.

To stay ahead of the competition, agents need up-to-date information about a building’s construction, occupancy, hazards, and protection. But that isn’t always enough. Sometimes you’ll want a more in-depth look at the loss cost calculations, including the charges and credits we applied. Verisk’s Rating Survey Detail Report gives you details on how we calculate specific loss costs for any risk in the ProMetrix® commercial property database.

Having unique insight into the quality of a property’s risk characteristics is a powerful advantage. Agents need to know which properties your insurer should underwrite immediately and those that may need a more intensive review. Verisk’s Relative Hazard Percentile stratifies properties and gives you an objective risk score to use for individual risk selection and loss control prioritization.

Helping insureds and insurers improve risk and lower projected loss costs is a powerful way to get an edge on the competition. Some of the simplest risk improvements can make a significant difference in loss costs, and Verisk’s Risk Engineering Utility lets you take advantage of information on those cost differences. Customers get a real economic benefit — and the best possible quote.

Loss control and risk reduction are two powerful results of the same critical calculation for rating and competitive advantage. Verisk’s Risk Improvement Recommendations provide insights on building and occupancy hazards that help you reduce insured risks, control your insurers’ losses, and offer the most competitive quotes.

Knowing whether a building is sprinklered is only part of the total risk picture. Agents also need to know if the sprinkler system can adequately protect the property and how it affects the building’s loss cost. Verisk’s Sprinkler Assessment Report provides an easy-to-understand engineering assessment of the effectiveness and loss reduction capabilities of a sprinkler system at a glance.

To be as competitive as possible, agents need insightful, granular detail about a property and its environment. You need Underwriters Advantage, a single source of information that combines property-specific data from a wide variety of ProMetrix® system reports.