Does the hard road to profitability in commercial auto insurance have to lead to endless detours? Social inflation and riskier driving can wreak havoc on results: Industrywide combined ratios have exceeded 100 for more than a decade. Yet while the industry overall continues to lose money, some carriers consistently write business profitably. It’s not luck; many of these companies have invested in data and analytics that give them a competitive advantage.
There are ways out of this dead end. To modernize for the long haul, a new Verisk white paper, Commercial Auto Profitability: Analytic Approaches and Innovative Tools, explores four strategies for success.
To get a deep dive into how these strategies can serve commercial auto insurance objectives, download the free white paper.
By Greg Jacobs
Greg Jacobs, director product management, leads product management for commercial auto underwriting solutions. Before joining Verisk, he held several positions in personal and commercial product management with a national carrier. Greg is passionate about developing innovative data and analytic solutions that help insurers achieve their goals.
Jimmy Engström is the director of analytic products at Verisk. He is responsible for managing analytic rating solutions for both personal and commercial lines, including the ISO Risk Analyzer suite. During his career at Verisk, he has held numerous roles within product management, marketing, and product development. Jimmy holds the Chartered Property Casualty Underwriter (CPCU) and the Associate in Risk Management (ARM) and Insurance Data Analytics (AIDA) designations.
Jane Hall is a product manager for commercial auto solutions at Verisk, including its latest offering, LightSpeed Commercial Auto. Prior to joining Verisk, she held various positions within commercial and personal lines product and process management for both the carrier and agency sides. Jane’s expertise lies in leveraging data solutions to enhance customer satisfaction and drive business success.
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