Auto insurance

Online companies inject speed and ease into car insurance

Jersey City, NJ, May 17, 2022 (GLOBE NEWSWIRE) — Two companies are transforming the online car insurance shopping experience with Verisk LightSpeed ​​for Personal Auto Solution. Way.com, a digital agency that connects drivers with parking, car wash and auto insurance deals, and Roamly, the first integrated insurance technology that connects travel enthusiasts with RV insurance deals. unique for landlords and tenants, use Verisk automation to simplify the application process. for auto insurance and quickly provide quotes that meet the needs of today’s consumers.

“Verisk’s data platform has created a seamless experience,” said Way.com Founder and CEO Binu Girija. “By integrating LightSpeed ​​Auto with our mobile platform, we are able to provide insurers with valuable vehicle and driver information they need to provide fast and accurate quotes to our users in seconds. Analytics and the speed at which it is delivered has been a game-changer for our business. »

LightSpeed ​​Auto combines Verisk’s vast data resources and groundbreaking analytics, advancing key decision points in the insurance buying process through a single API. It also provides flexibility in what data a company can access based on their unique business model and needs. Users can apply granular business rules to every transaction, and the solution leverages Verisk’s RISK:check® point-of-sale, which can help insurers improve application integrity and combat premium leakage and underwriting fraud.

“The pandemic has affected many people’s travel plans and dramatically increased demand for online motorhome rentals,” said Aaron Ammar, chief insurance officer of Roamly. “But many RV owners worry about renting out their vehicle without the proper insurance. With Verisk’s advanced analytics and automation, we’ve been able to address owners’ insurance concerns and cost-effectively provide RV renters with the coverage they need.

For Roamly, the solution includes Verisk Inflection™ Credit-Based Insurance Scorepowered by credit data from Equifax, in combination with original quote from EquifaxMT Score* and customizations to meet the unique needs of RV owners and renters, many of whom also list or rent their rigs on Outdoorsy.

“Roamly and Way.com are creating new shopping experiences for today’s digital consumers who want to spend more time driving their vehicles and less time worrying about them,” said Doug Caccese, president of subscription of personal lines at Verisk. “By bringing critical risk information upfront, we were able to help streamline the auto insurance buying process to convert more leads and minimize spend on quotes that don’t result in new business for our customers. insurance partners.”

LightSpeed ​​Personal Auto is part of a suite of innovative Verisk solutions used by a wide range of insurers and distribution channels to improve accuracy and modernize underwriting and risk assessment.

To learn more about Verisk’s personal automotive solutions, visit verisk.com/personalauto.

About Verisk

Verisk (Nasdaq: VRSK) provides data-driven insights and analytical solutions for the insurance and energy industries. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk enables customers to enhance operational efficiency, improve underwriting and claims results, fight fraud and make informed decisions on global issues, including climate change and extreme events as well as policy and ESG. the subjects. With offices in over 30 countries, Verisk consistently achieves Great Place to Work certification and fosters an inclusive culture where all team members feel like they belong. To learn more, visit Verisk.com and the Verisk Newsroom.

About Roamly

Roamly Insurance Group (Roamly) is the first comprehensive insurance technology for enthusiasts with an integrated offering, unlocking RV insurance to make owners’ vehicles “rental ready”. Roamly provides unique digital insurance products that eliminate the commercial use disclaimer that prohibits online rental activity. Our insurance provides the clarity owners need to ensure their vehicles are indeed eligible for rental on platforms like Outdoorsy. For more information, visit www.roamly.com.

About Way.com

Way.comis the first financial platform for car ownership, where 5 million drivers have discovered high-quality car services in a single destination. The #1 car super app team believes car ownership should be affordable for all Americans. Customers saved millions in 2021 thanks to the company’s advanced technology approach, as they signed up for the best car insurance and parking rates in the app in seconds. The Auto Services Marketplace also finds and reserves the best city and airport parking, offers roadside assistance, auto refinance, connects customers with top-rated car washes in the area, and associated with parking lots and car washes, in addition to and providing insurance covering all 50 states. For more: Way.com

*Patented and trademarked by Equifax