A chronic problem with a hidden toll
Annual mileage is a proven predictor of loss costs—and among the most difficult rating variables to confirm and maintain accurately across the policy life cycle. Two-thirds of policies underreport mileage, contributing to more than $5 billion in annual industry premium leakage.1
Get the green light with reliable mileage
Reliable mileage verification matters, but many insurers struggle to capture it. You can bypass unreliable self-reporting, and expensive third-party distributors while pricing more precisely at point of sale and renewal.
Depend on better data
Reduce dependency on inaccurate self-reported mileage and leverage our comprehensive data sources and analytics for more accurate predictive mileage bands.
Precision pricing
Price more accurately using third-party data or our predictive mileage model.
Stem the flow
Avoid adverse selection that steers low-mileage drivers to competitors offering pay-per-mile programs.
Mileage and claims are strongly correlated
Verisk analysis shows that claims vary widely between annual mileage bands. Vehicles with fewer than 3,000 miles experience 40% fewer claims. Vehicles with 20,000 or more miles are likely to see 31% more claims.2
Mileage and claims are strongly correlated
Features and capabilities
Varied data
Estimate accurately by combining data from curated, third-party sources and our predictive mileage model.
More sources
Capture odometer readings from sources such as state inspections, auto maintenance service providers, and dealers, streamlined through Verisk.
Predictive modeling
Enhance accuracy with a validated model that produces estimates for new vehicles and those for which there’s not enough odometer data.
Related resources
Stay in the know about important industry trends and innovative solutions.
Article
Capturing mileage across a shifting auto insurance landscape
Case study
Going for the Extra Miles: Capturing a Critical Rating Factor
Learn how one insurer used new data sources and advanced modeling to identify mileage gaps and gain a 7.2% lift with more accurate estimates.
White paper
The Challenge of Auto Insurance Premium Leakage
Do more with the Verisk ecosystem
Future-proof your business with a partner that puts you in the driver’s seat.
Rating integrity at every stage
Harness data-driven analytics to detect fraud and take on premium leakage across the policy life cycle.
Modernized, data-forward quoting
Accelerate data-forward quoting and modernize buying journeys to keep more business in the pipeline and boost conversion rates.
Undisclosed driver identification
Confront the leading source of premium leakage by determining who is driving what vehicle.
Coverage history and details
Gain a chronological, 360-degree view of risk, unlock predictive behavioral patterns, and discover multiple use cases.
Contact us to learn more
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1 Verisk 2018 Verified Mileage Study
2 Verisk analysis of ISO Statistical Plan data, March 2021; based on three-year average for all personal auto coverages from 2017-2019 and excluding 2020 to remove impact of pandemic on typical mileage patterns