Leverage Multiple Data Sources to Get a True Risk Profile of a Small or Micro Business

More than a year after the COVID-19 pandemic began, its effect on small businesses lingers. Many small businesses closed their doors, while others...

credit-based insurance scores
What Changed? The Surprises Seen in Risk Scoring During the Heat of the Pandemic

In the pandemic, it was hard to see any positives — but while studying insurance data, our team at LexisNexis Risk Solutions saw some bright...

COVID-19’s Negative Effect on Small Business Challenges Commercial Insurance

In a fragmented and challenged market like commercial insurance, COVID-19 related concerns have added an unforeseen level of complication. The...

traditional loss runs
5 Reasons Traditional Loss Runs are No Longer Sufficient

An integral part of evaluating new submissions for commercial insurance carriers is reviewing a business’ loss runs to assess the claims...

How IoT Devices Can Reduce Risk of Commercial Water Damage

The Internet of Things (IoT) and its impact in insurance continues to be a hot topic of discussion. In a recent study, my colleague, Dan Davis,...

Personal or Commercial Insurance? When a Small Business is Home-Based

What do Amazon, Spanx, Apple and Microsoft all have in common? Yes, they are all billion dollar global brands, but they all started out as a home...

Taking the Next Step in Commercial Lines Automation

Industries across the board have been discussing digital transformation for years and how customer expectations are shifting the way they conduct...

Choosing a Predictive Modeling Partner that Takes a Customer-Centric Approach

Selecting the appropriate data sources is critical for an effective customer-centric approach to predictive modeling. Why? For the most part, no...

Prefill Gives You the Answers You Need, But the Power is in the Linking

If you’re considering making a prefill solution a part of your commercial insurance workflow, it’s important to know the accuracy of the...

Five Benefits of Multi-sourced Predictive Modeling for Small Commercial Insurance Risk Rating

In my previous blog post, I discussed the danger of defaulting to neutral risk rating. It’s no secret that effectively predicting risk in small...