Property/casualty insurance analytics provider ISO and Willis Re, the reinsurance broking arm of Willis Group Holdings, the global insurance broker, have formed a joint marketing relationship for ISO Risk Analyzer products in the United States. Effective immediately, Willis Re will offer select clients the opportunity to license ISO Risk Analyzer. ISO is the flagship subsidiary of Verisk Analytics.
ISO Risk Analyzer is a suite of predictive models that help insurers more accurately classify, segment, and price risks.
‘The models are designed to predict losses at very granular levels of geography, coverage, and peril. The more accurate assessment of risk enables insurers to identify the best performing parts of their business, fine-tune pricing accuracy across their book, and drive growth,’ according to Kevin Thompson, senior vice president of ISO.
ISO and Willis Re believe predictive analytics is one of the most important trends reshaping the property/casualty insurance landscape. This business agreement with ISO represents an opportunity for Willis Re clients to start their risk assessment efforts with analytics that are ready to implement immediately.