PriyaPatel
TLDR:
- Earnix and Verisk have partnered to boost commercial insurance pricing efficiency
- The collaboration aims to integrate Verisk’s ISO Electronic Rating Content™ (ERC™) into Earnix’s platform, empowering insurers to enhance accuracy, reduce delivery time, facilitate regulatory compliance, and drive better business outcomes
Earnix, a leading global provider of AI-based SaaS solutions for financial services, has announced a strategic collaboration with Verisk to boost commercial insurance pricing efficiency. The partnership aims to integrate Verisk’s ISO Electronic Rating Content™ (ERC™) into Earnix’s pricing and rating platform, empowering insurers to enhance accuracy, reduce delivery time, facilitate regulatory compliance, and drive better business outcomes in the commercial insurance market.
The move will allow commercial line insurers to leverage Earnix’s advanced analytical tools while utilizing Verisk’s comprehensive rating content. This synergy is expected to significantly enhance the speed and accuracy of bringing new rates to market, offering insurers a competitive edge. Insurers will also be able to implement the strategic value of Verisk’s ISO ERC™ within a single environment, thereby improving their response times to market changes.
This capability is particularly crucial following the tumultuous market conditions of 2023, which underscored the need for agility in the insurance sector. Ruth Fisk, Head of Business Development at Earnix, highlighted the importance of quick responses to market changes after the challenges of 2023. Additionally, Ron Beiderman, Senior Vice President at Verisk, emphasized that the use of Verisk’s ISO ERC™ will position insurers on Earnix’s platform to be much more competitive.
