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,...

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...

Data Assets are Used Inconsistently in Small Commercial Insurance

This is the third in a series of blog posts looking at how U.S. commercial insurance professionals are responding to current and emerging market...