How Commercial Auto Policy History Data Supports Informed Decisions

Those gaps can contribute to:

• Operational inefficiencies: 64% of carriers still use a mix of manual and digital underwriting processes.
• Undisclosed risks: 68% of carriers report that up to 30% of commercial auto claims involve undisclosed drivers.
• Data accuracy gaps: 80% of carriers acknowledge deficiencies in data accuracy, while 85% consider accurate data essential.

How does commercial auto policy history data help?

Commercial auto policy history data provides additional context about prior policies, coverage, drivers and vehicles. Through contributions to LexisNexis® Current Carrier® Commercial, participating carriers can access collective industry insights within existing quoting and underwriting workflows. This can help them verify reported information, identify potential gaps and develop a more complete picture of prior coverage without relying solely on the collection and review of declaration pages.

A more complete view of prior coverage can help carriers:

• Provide more like-for-like competitive quotes
• Better align rates to risk
• Refine and accelerate risk assessment
• Streamline quoting and underwriting workflows
• Enhance operational efficiency and profitability

The value can extend beyond the initial quote. Policy history-related data and insights can support more informed decisions across quoting, underwriting, renewal, compliance and claims, while helping organizations improve segmentation, access industry-level insights and fuel analytics and product development initiatives.

Download the infographic to see how commercial auto policy history data can help your organization close information gaps, see beyond its own book of business and make more informed decisions across the customer lifecycle.