Verisk has announced the integration of its LightSpeed®? Small Commercial solution onto Guidewire Marketplace. This integration can help small business insurers automate underwriting workflows and bind new business in seconds.
LightSpeed Small Commercial quickly provides insurers with reliable exposure data including the minimum core attributes needed in an automated process (NAICS, SIC, #Employees, payroll and revenue) as well as insights for more informed decision-making with only the input of basic information. The automation is driven by deep underwriting data and analytics that allow insurers to efficiently classify, quantify, and qualify risks for more targeted risk selection and increased straight-through processing. More than 30 Verisk solutions have been integrated onto Guidewire Marketplace, including 360Value®, which helps insurers from underwriting to renewal with reliable, claims-driven, component-based estimates that account for virtually all material and labor required to rebuild structures.