Policy Insight

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Policy Insight provides comparisons on same provision/topics within policy wordings across 5,000 policy-insight-250x324different policies in many lines of business. Use Policy Insight to identify key differences in coverage among your competitors and to highlight opportunities for new products that address unmet coverage needs.

Benefits for Brokers

Business Development

  • Identify weaknesses in incumbent broker’s coverage program
  • Highlight coverage advantages for alternative insurance markets

Stewardship

  • Highlight coverage advancements in prior renewal
  • Identify trends in coverage evolution

Placement

  • Understand variations in coverage from alternative quoting markets
  • Identify trends in coverage evolution
  • Understand admitted vs. non-admitted forms

Benefits for Insurers

Pricing & Ratemaking

  • Explore competitors’ scope of coverage and exclusions as they relate to pricing
  • Understand underlying terms and conditions for follow form coverage
  • Track market trends in coverage terms as input to pricing strategy

Product Development

    • Develop new products that address weaknesses in the coverage terms of competitors
    • Respond quickly to changes in the scope of competitors’ coverage
    • Track the emergence of new types of exclusions and endorsements

Marketing & Distribution

  • Arm field representatives with specific competitive differentiators
  • Support more informed conversations with brokers and agents
  • Justify higher pricing based on the quality and completeness of coverage

Policy Insight Data

Policy Insight data includes two types of wordings:

  • More than 5,000 full specimen forms across 12 LOBs
  • More than 5,000 endorsements

Advisen parses wordings into more than 100 specific topics per insurance line of business for easy side-by-side comparison.

Delivery Methods

Policy Insight is available via the following delivery methods:

Policy Insight Online

Policy Insight Online provides power users access to drill-down for greater detail and customization of policy wordings contained in the Advisen database.

Policy Insight Reports

Policy Insight Reports provide a side-by-side comparison of two insurance policy wordings in a Word document format.

Policy Insight for Microsoft Word

Policy Insight integrates into Microsoft Word to give you easy access to insurance policy forms without requiring a login or navigation through the online platform.