Jennifer Graham

An insurer used Verisk's Vehicle Registration Reports solution to correct vehicle data by leveraging already available information to improve their book's data accuracy.

Like any long-term relationship, the one between an insurer and a policyholder is bound to evolve as circumstances change. Events in the customer’s life—marriage, divorce, new job, relocation, or driving-age children—alter the risk. And that contributes to the $29 billion annual problem of premium leakage for auto insurers.

As Gulf Coast communities from Texas to the Florida Keys begin a years-long recovery from the onslaughts of hurricanes Harvey and Irma, another surge is on the way. This one is not rising water; it’s salvage vehicles that were totaled in the storms’ flooding and may be dumped back on the market by the thousands after being rebuilt—or just dried out.