StudyPrice

A revolutionary tool for the auto insurance industry

Simplify your risk analysis with VIN-specific data

StudyPRICE is the automotive industry’s first normalized, analytics-ready and VIN-specific risk analysis service. It enables insurance carriers to identify and evaluate vehicle features that mitigate loss or severity of loss, reduce risk and result in more competitively priced auto premiums.

Now you can study your historical auto claims and VIN-specific features – beyond year, make and model. In addition to robust vehicle descriptions, StudyPRICE discovers all active and passive safety features, all vehicle features deemed to be expensive to replace/repair, as well as theft-preventative features.

Once these features are identified, you can integrate StudyPRICE directly into all quoting algorithms, enabling automatic discounts for applicable features.

StudyPRICE can return up to 1,200 features for a single VIN.

U.S. insurers say they currently do not have sufficient data to validate auto industry promises of safety benefits from automated driving systems. *

The StudyPRICE solution

Rather than having a standardized naming convention for ADAS features, every manufacturer brands them differently as a way to stand out from the competition. Because the detailed data provided through StudyPRICE is normalized (vehicle features are described and coded consistently across years, models and OEMs), comparison and analytics can be performed with a significantly better degree of accuracy. With StudyPRICE, insurance carriers have the ability to compare over 1,200 feature attributes on every vehicle. Autodata Solutions keeps track of new technologies by adding them to the database as they enter the market.

StudyPRICE gives clarity to “invisible” ADAS features.

It has become difficult to determine relevant features and what features are actually on a vehicle with any degree of certainty. Because they consist of actuators, sensors, processors and/or over-the-air software capabilities, ADAS systems can be difficult to see. Autodata Solutions receives build data directly from the OEMs for the majority of vehicles sold each year, including fleet and direct orders. In the absence of OEM build data, we have a proprietary VIN warehouse consisting of engineered VIN data derived from numerous sources that accounts for all of the as-configured features on a given VIN. We provide automotive VIN services that call out ADAS and other key features, as well as categorize them. Our automotive VIN services are powered by deep and comprehensive standardized vehicle data and configuration rules, making it much more difficult for “invisible” ADAS features to hide.

Competitively priced insurance rates keep customers loyal.

Insurance customers increasingly jump from carrier to carrier. According to analysis by J.D. Power, the number of insurance consumers “at-risk” for changing carriers has risen to its highest level in 20 years. The rate of auto insurance loyalty, measured by customers who will “definitely renew” their policy with their incumbent carriers, continues to fall. This decline in loyalty is driven by the efficiency of online insurance shopping, the ease of switching carriers and the rising costs of auto insurance. Premium discounts for certain features can mean the difference between winning and losing a quote, as well as in retaining current customers.

500 million

VINs have been processed through our batch service to date

2 million

VINs per week are processed through our live service

Key features of StudyPRICE

  • Our solution is conveniently offered as a RESTful web-based service, allowing for live VIN submissions or batch processing.
  • Our solution features VIN-specific and feature level data. We have the most accurate, timely and complete vehicle data and content in the industry encompassing 30-years of model coverage. 
  • We obtain our data directly from the OEMs and update immediately upon receipt so our vehicle data is always current.
  • Our vehicle content attributes are normalized to consistently describe the attributes of vehicle features in a complete, accurate and OEM-agnostic way.
  • Service outputs allow for easy integration into existing quoting algorithms.

Available features for analysis:

  • All active and passive safety features
  • All vehicle features deemed expensive to replace or repair
  • All features that may prevent theft

Insurance carriers use StudyPRICE to analyze all current and past customer vehicle data at the feature level. Comparing it to their loss data, carriers learn which features impact frequency and severity of loss.

Have a question?

The Autodata Solutions account team is made up of the industry’s finest – people who share a passion for the automotive industry and a desire to find the perfect solution to meet the individual needs of your business and end-customer. Each member of our team has extensive automotive experience, which empowers him/her to assess and determine the products and solutions right for you. Think of Autodata Solutions as your business partner, ready to help you reach and exceed your goals.

To learn more about our products, request a demo or to speak one-on-one with a member of our diverse and knowledgeable team, contact us at 866.430.8524 Option 1 or complete this form. We will follow up with you at your convenience.

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