Verisk and TransUnion Launch New Version of A-PLUS Auto Loss-History Database

Verisk Insurance Solutions (Jersey City, N.J.) and TransUnion (Chicago) have released A-PLUS 2.0, which the vendors describe as the next-generation A-PLUS auto loss-history database, used by automobile underwriters to validate prior claims history. A-PLUS 2.0 offers new patent-pending household-based search technology from TransUnion that returns approximately 21 percent more claims, virtually eliminates false positives, and provides a new "alert" feature that can greatly streamline the quote process for web, call centers, agents, and back-end underwriting systems, according to the vendors.

Developed by ISO, a member of the Verisk Insurance Solutions group at Verisk Analytics, the A-PLUS auto loss-history database is populated with claims records contributed from insurance companies representing 95 percent of the personal auto insurance market. A-PLUS 2.0 features enhanced search technology from TransUnion designed to optimizes the search process using customer name and address records.

"A-PLUS 2.0 is a giant leap forward in terms of finding additional claims and reducing the number of unrelated claims returned to the carrier," claims Steve Craig, assistant VP and general manager of A-PLUS. "The additional lift in the number of claims returned facilitates revenue generation by identifying additional premium surcharges, refining policy rating precision, and eliminating manual procedures by agents and underwriters to reconcile false matches from existing competitive products. With this additional information, carriers have the opportunity to avoid risks that would potentially generate future losses."

[For more on underwriting technology, see Smarter Underwriting: New Strategies for Cost Control and Pricing Precision Using Decision Management.]

Michael Gaughan, VP of Insurance Solutions at TransUnion, comments, "A-PLUS 2.0 was a logical next step for Verisk and TransUnion. Together, we can harness the enhanced searching algorithms developed by TransUnion while leveraging the vast claims data housed within Verisk to provide carriers with a state-of-the-art product that will help control their overall data costs. We've been very pleased at how many more claims are identified with our proprietary household search routines."

In addition to enhanced matching logic, A-PLUS 2.0 now offers an optional point-of-sale alert feature, according to the vendors. The alert feature allows an agent or carrier to receive an up-front indicator at the beginning of the quote process. This allows the carrier to avoid ordering a detailed claims history report on applicants with excellent records and also enables the carrier to implement straight-through quote processing for other applicants. The alert feature can be implemented as a stand-alone program - regardless of whether a carrier currently uses the A-PLUS auto database or a competitor's product.

A-PLUS 2.0 can be delivered through the ISO/Verisk platform or the TransUnion platform, which A-PLUS and TransUnion say provides maximum implementation flexibility for carriers.

Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio