A proven, effective, and economical way to combat rating error

The Quality Planning Rating Integrity Solution^TM is a customized premium-recovery program for private passenger automobile insurers.

Quality Planning (QPC), a member of the Verisk Analytics Family of Companies, offers a suite of sophisticated services to detect, correct, and prevent rating errors. The Rating Integrity Solution is a proven management tool that restores rating integrity, prevents future losses, and provides a high return on investment.

The Quality Planning Rating Integrity Solution consists of:

• RISK:check^® identifies potential rating errors
• Precision Re-Underwriting^TM recovers lost premium
• RISK:guard^® maintains rating integrity
• RISK:select^TM identifies potential rating errors where mileage and commute are not rating factors
• QPConfirm^® validates rating elements at the point of sale

Benefits

When you implement a custom-designed rating integrity program from QPC, you get all these benefits:

• Improved top-line results
  An aggressive program can recover approximately 60 percent of your lost premium in the first renewal period and more than 90 percent over a three-year period.
• Marketing advantages
  Rating accuracy and proper pricing for each risk allow you to give your best rate to your best customers while protecting your company from adverse selection. No longer will policyholders with good driving records subsidize high-risk drivers.
• Improved profitability
  By reducing premium leakage to less than half its current rate, the average automobile insurer can increase profits 40 percent.
• Actuarial advantages
  Errors in the information that enters your database undermine all insurance functions. But better data integrity improves your actuarial analysis, financial projections, and overall risk management.
• High return on investment
  The costs of a QPC premium-recovery program are substantially less than the costs of developing your own in-house program. Insurers typically recoup the cost of a QPC program within the first few months of the program year.
• Easy implementation
  The Quality Planning Rating Integrity Solution is easy for you to implement and requires virtually no changes in your IT operations. QPC accepts your existing policyholder data in most formats and returns results in any format you request. You can directly integrate the new data into your existing renewal and update procedures.
• Customer satisfaction
  To create a positive experience for your customers, QPC has carefully refined the scripts we use to interview policyholders during the Precision Re-Underwriting process. We schedule interviews at your customers' convenience and conduct interviews in a choice of languages. Throughout the process, QPC maintains extensive quality-control monitoring, and we encourage your involvement.

A long-term solution to the problem of rating error

The Quality Planning Rating Integrity Solution is more than a one-time fix. Used continually over time, the program ensures that your critical business information is accurate and your premiums adequately reflect the risks in your automobile portfolio.

For more information about the Quality Planning Rating Integrity Solution, contact Quality Planning or call us at 415-369-0707.