ANN ARBOR, Mich., September 13, 2022. Groundspeed, the leading policy application submission and analytics solutions provider to the commercial P&C insurance industry, released its Commercial Auto 360° Risk Profile Product today. This product is based on Groundspeed’s unique contributory dataset, including more than 300 data points derived and enriched from auto loss runs, applications, questionnaires, fleet schedules, garage locations, and driver lists. In addition, 3rd-party data integrations further enhance functionality to verify VINs and provide additional vehicle information.
Armed with Groundspeed’s analytics tool, underwriters are able to not only set up and clear all submissions but immediately triage and rate each using their own rules and Groundspeed-provided insights. Additionally, this product can be combined with the workers’ compensation data product that Groundspeed launched in July. Like Groundspeed’s other data analytics products, the Commercial Auto 360° Risk Profile product is backed by its near-perfect data quality pledge and industry-leading SLAs.
“Commercial auto insurers face unique profitability challenges, as steep rises in loss trends have outstripped premium growth in recent years,” said Eric Kobe, CEO of Groundspeed. “To compete, underwriters need access to comprehensive submission data, and they need it quickly. This product is our answer to these challenges and was created from our deep partnership with our customers.”
Commercial Auto 360° Risk Profile Product
Groundspeed provides the most comprehensive commercial auto data package in the industry. It currently consists of over 300+ data points curated from multi-year loss runs, ACORD applications and exposures, vehicle schedules, garaging locations, and driver lists in either PDF or Excel format. We also provide VIN checks and additional vehicle data from industry standard 3rd party sources. As a result, this package has the most complete coverage of submission documents typically seen in the commercial auto space.
About Groundspeed Analytics
Groundspeed Analytics is the leading SaaS-delivered submission and data services provider for the commercial P&C industry. Groundspeed’s API-based solution automates the ingestion and enrichment of unstructured risk information in policy applications. As a result, they provide essential insights to help carriers better assess and price risk and do so more quickly than traditional manual processes. Groundspeed does so by leveraging its industry-leading contributory dataset, which enriches submission document data combined with predictive analytics. In addition, it can further enrich functionality by integrating 3rd-party data, including address corrections, geocoding, VIN# checking, vehicle information, and NAICS/SIC and DUNs information about the insured. To learn more about how Groundspeed can help unlock the value in your unstructured data, visit www.groundspeed.com.