First Chicago Insurance Company (FCIC), a proud member of the
Warrior Insurance Network (WIN), is refining its commercial auto
underwriting with robust vehicle data from Verisk (Nasdaq: VRSK), a
leading global data analytics and technology provider.
The insurer is leveraging Verisk’s new commercial lines (CL) VIN
Decode solution to gain a more robust understanding of risk unique
to commercial and specialized vehicles. With an individual Vehicle
Identification Number (VIN), the solution delivers information on
more than 50 detailed vehicle attributes, such as year, make,
model, weight, engine, and transmission, seamlessly into First
Chicago’s underwriting workflow.
“Commercial vehicles come in many different shapes and sizes,
and their unique attributes can have a significant impact on their
risk profiles,” Mark Bissonette, Vice President, Commercial Lines
Underwriting, FCIC. “Verisk’s detailed data and automation
capabilities are enabling us to evaluate and price with greater
precision and deliver a more streamlined customer experience.”
Verisk’s CL VIN Decode information is continually updated with
new data on a range of commercial vehicles, including traditional
private passenger types, light duty to extra-heavy-duty trucks,
trailers, and specialty vehicles. This information can be used in
conjunction with ISO’s Commercial Auto Classification Plan. Verisk
surfaces critical components to help rate policies more precisely
including vehicle age, gross vehicle weight, and vehicle value.
“Achieving profitability in the commercial auto market has been
a challenge for many insurers in the past decade, and we’re
committed to creating solutions that help clients overcome those
challenges,” said Joe Wodark, vice president of auto underwriting
solutions at Verisk. “By plugging into our new CL VIN Decode
solution, First Chicago will be able to get the latest data on the
rapidly evolving world of commercial vehicles, and gain insights
that can have a significant impact on their book of business.”
Learn more about Verisk’s CL VIN Decode solution for
commercial auto.
About Verisk Verisk (Nasdaq: VRSK) provides data-driven
analytic insights and solutions for the insurance and energy
industries. Through advanced data analytics, software, scientific
research, and deep industry knowledge, Verisk empowers customers to
strengthen operating efficiency, improve underwriting and claims
outcomes, combat fraud and make informed decisions about global
issues, including climate change and extreme events, as well as
political and ESG topics. With offices in more than 30 countries,
Verisk consistently earns certification by Great Place to
Work and fosters an inclusive culture where all team
members feel they belong. For more, visit Verisk.com and
the Verisk Newsroom.
About First Chicago Insurance Company
First Chicago Insurance Company (FCIC) is a member of the
Warrior Insurance Network (WIN). FCIC, whose roots trace back to
1920, has evolved into a multi-line insurance carrier, now offering
Personal & Commercial Auto and General Liability insurance in
response to the needs of the company’s independent producers and
customer base. In personal lines, FCIC has further responded to the
changing exposures and needs of their independent producers by
adding optional insurance coverages such as Contents Plus Renters,
Roadside Assistance, and Transportation Network Coverage to enhance
their personal lines auto offerings. FCIC currently offers
insurance via independent agencies throughout Illinois, Indiana,
Iowa, Kansas, Louisiana, Missouri, New Jersey, Ohio, Pennsylvania,
Texas, and Wisconsin. WIN member companies are licensed in 21
states which include Arizona, Arkansas, Colorado, Georgia,
Illinois, Indiana, Iowa, Kansas, Louisiana, Maryland, Missouri,
Nebraska, Nevada, New Jersey, Ohio, Oklahoma, Pennsylvania,
Tennessee, Texas, Virginia, and Wisconsin. FCIC is headquartered at
6640 S. Cicero Avenue, Bedford Park, IL, 60638,
http://www.FirstChicagoInsurance.com. 888-262-8864
About Warrior Insurance Network
Warrior Insurance Network’s (WIN) member companies include First
Chicago Insurance Company (FCIC), United Security Insurance Company
(USIC), Texas Ranger MGA (Texas Ranger) and Lonestar MGA
(Lonestar). WIN is a marketing organization servicing a select
group of insurance carriers and independent insurance agents which
offer a diverse array of personal and commercial auto insurance
products. FCIC, whose roots trace back to 1920, has evolved into a
multi-line insurance carrier, now offering Personal &
Commercial Auto and General Liability insurance in response to the
needs of the company’s independent producers and customer base. In
personal lines, FCIC has further responded to the changing
exposures and needs of their independent producers by adding
optional insurance coverages such as Contents Plus Renters,
Roadside Assistance, and Transportation Network Coverage to enhance
their personal lines auto offerings. USIC is celebrating its 50th
anniversary in 2023 and specializes in providing affordable
personal lines auto insurance products with multiple discounts
available, responsive claims handling and quality customer service.
Texas Ranger MGA and Lonestar MGA expand WIN’s presence to include
the Texas market.
WIN’s member companies are licensed in 21 states which include
Arizona, Arkansas, Colorado, Georgia, Illinois, Indiana, Iowa,
Kansas, Louisiana, Maryland, Missouri, Nebraska, Nevada, New
Jersey, Ohio, Oklahoma, Pennsylvania, Tennessee, Texas, Virginia,
and Wisconsin. WIN is headquartered at 6640 S. Cicero Avenue,
Bedford Park, IL, 60638. http://www.WarriorInsuranceNetwork.com
866-400-8600
Michelle Pantina
551-500-7327
michelle.pantina@verisk.com
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