Auto insurance is competitive and rate sensitive. Auto insurance carriers need every pricing advantage, not only to keep up, but to grow their portfolios. Today, certain vehicle features can reduce the frequency or severity of loss. Premium discounts for such features can be the difference between winning and losing a quote.
Autodata Solutions’ StudyPRICE solution allows carriers to study their historical auto claims in order to find the vehicle features that impact the frequency or severity of loss so auto policies can be priced more competitively. In addition to robust vehicle descriptions, StudyPRICE discovers all active and passive safety features, all vehicle features deemed to be expensive to replace or repair after an accident, as well as, theft-preventative features.
Simply uploading the vehicle VINs from their portfolio of historical auto claims and StudyPRICE will return the actual vehicle features for each VIN—all ready for predicative analysis by the carrier’s data analysts. Once features that correlate with reducing the frequency or severity of loss are identified, the carrier can integrate StudyPRICE directly into all auto pricing and quoting algorithms. This will enable automatic discounts for the applicable features.
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 and to speak one on one with a member of our diverse and knowledgeable team, contact us at 866.430.8524 or complete this form and we can follow up with you at your convenience.
