InsurQuote(SM)

Calculate relevant competitor premiums for any risk set

InsurQuote(SM) and Rate Analyst Plus are sophisticated software tools that provide decision makers with data for Competitive Analysis and Rate Modeling purposes. With quality data, superior usability, and an industrial strength rating engine, these tools help insurance companies quickly and accurately monitor their products in the marketplace.

InsurQuote(SM) helps empower insurance decision makers with the necessary data and tools to perform competitive analysis to make better decisions. With a 32-bit Windows® environment and the industry's only industrial strength rating engine, InsurQuote revolutionizes the traditional methods of "batch rating". With the ability to rate large volumes of risks, InsurQuote allows the insurance professionals to focus on applying the Business Intelligence rather than creating it.

LexisNexis® Insurance Solutions Analytics offers structure, information, and expertise to help carriers in their decision making process by offering the following benefits:

  • Streamline operations to focus on generating and analyzing data rather than building spreadsheet raters
  • Run hundreds of thousands of risks to increase credibility and sample size
  • Import your company's quote data to understand more about the policies you are not winning
  • View the Rate Order of Calculation along with the base rates and other rating factors of competitors
  • Create hypothetical Market Baskets to look at new market/segments
  • Chart the premium differences between your rates and the closest competitor to identify Money on the Table
  • Create your own experimental rate revisions and compare them against current rates to perform a disruption analysis on your current book
  • Reduce potential for your book being adversely selected against
  • Research how your competitors are segmenting the market with different rating variables or territory assignments and experiment with implementing them into your rates
  • Create and analyze new territories, tables and rating variables, and integrate your product development, pricing, and competitive analysis processes

Get it now: For more information about LexisNexis® InsurQuote(SM), call 800.869.0751.

Accuracy and Timeliness
LexisNexis Insurance Solutions is a market leader. The majority of the top carriers in the marketplace use InsurQuote and Rate Analyst for their competitive analysis needs. These clients provide filings in a timely manner and provide clarification related to the filings, which greatly improves the quality of data.

Content Coverage
Thousands of auto and property insurance plans in all 51 jurisdictions comprised of the top Direct, Exclusive and Independent Agency carriers are available to be analyzed in InsurQuote. Users may also select tenant and condo insurance plans.

Expert Service and Support
LexisNexis Insurance Solutions supplies excellent support by staffed trained in insurance, with experience in competitive analysis and ratemaking. Updates will be sent twice a month via electronic download to provide the latest rate revisions. Clients may also log in to the client-based Website, The Scope, for additional information on upcoming updates and other training related materials.

Experience
InsurQuote development efforts are directed by actuaries, insurance product managers, and other insurance professionals who truly understand the purpose of insurance analytics. With over twenty years of rating experience, carriers can be confident in the results these products provide.

Product Features
InsurQuote and Rate Analyst are designed to be intuitive and flexible enough to handle the more complex rating variables including insurance scoring and tiering.

LexisNexis InsurQuote automates portions of the analysis process with tools such as:

  • Policy import capability
  • Credit rating level wizard
  • Zip-to-Territory wizard
  • Adapted Tiering
  • Policy question Modifiers
  • Market Reports integrated with Microsoft® Excel®*
  • Direct database output
  • Rate Order of Calculation and Factor Display
  • Factor Differences Display
  • Vehicle Database
  • InsurQuote SQL integration

Get it now: For more information about LexisNexis® InsurQuote(SM), call 800.869.0751.

  • Replicated Insurance Scores – Provides the most sophisticated approach to building insurance score assumptions in order to generate more reliable results.
  • Risk Sync – Map your book of business, quote data, or other risk sets quicker with a user-friendly utility in order to import them into InsurQuote for further analysis.
  • Analytics Server Integration – Creates a server based environment for carriers to rate millions of risks in a minimal amount of time.
  • Auto and Home Policy View – Allow users to monitor their competitive position by household (combined auto and home).
  • Auto Market Reports – Generates a rank, off-balance, disruption, and/or win/loss report from InsurQuote processes. LexisNexis Insurance Solutions may also be engaged to develop automated custom reports for your company.

Get it now: For more information about LexisNexis® InsurQuote(SM), call 800.869.0751.

Literature

  1. LexisNexis® InsurQuote(SM)
  2. LexisNexis® Analytics for the Insurance Industry

Get it now: For more information about LexisNexis® InsurQuote(SM), call 800.869.0751.

Contact Us

For more information about our solutions call 800.869.0751 or contact us online

LexisNexis InsurQuote's products do not constitute "consumer reports" as that term is defined in the federal Fair Credit Reporting Act 15 USC 1681 et seq. (FCRA). Accordingly, LexisNexis InsurQuote's products may not be used in whole or in part as a factor in determining eligibility for credit, insurance, employment or another permissible purpose under the FCRA. InsurQuote is a registered trademark of LexisNexis Risk Solutions.

Due to the nature of the origin of public record information, the public records and commercially available data sources used in reports may contain errors. Source data is sometimes reported or entered inaccurately, process poorly or incorrectly, and is generally not free from defect. This product or service aggregates and reports data, as provided by the public records and commercially available data sources, and is not the source of the data, nor is it a comprehensive compilation of data. Before relying on any data, it should be independently verified.

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