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.
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.
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.
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.
VINs have been processed through our batch service to date
VINs per week are processed through our live service