ProMetrix

Pricing a commercial property for insurance depends on knowing what is around it and what could go wrong there. ProMetrix is a risk analytics tool that helps commercial property insurance agents price and quote policies accurately, and it comes from Verisk, which presents it among its offerings for UK insurance markets.

What ProMetrix is for

The tool assesses the hazards of a given commercial property, giving an agent what is needed to set terms and prepare a quote. The aim is more accurate pricing, which in turn supports profitability and growth for the agent.

The data supplier behind it

Verisk describes itself as a leading source of information about insurance risk. It says it draws on its experience in data management and predictive modelling, and turns analysis into practical tools that customers can use to make better decisions. Its units offer risk assessment and decision analytics to insurance professionals in personal lines, commercial lines and the London market.

Other UK products from the same supplier

The range around ProMetrix is wide. For underwriting, Verisk lists tools such as AddressIt, Contents Insight, an electric vehicle database, Location Matters, Perils Insight and Premium Insight. Its claims products include a claims outcome advisor, an intelligent vehicle inspection service and a fraud intelligence service. Separate tools cover health, pet and travel risk rating, and the London market products include exposure management and a Lloyd's wordings repository.

Topics the supplier writes about

Its insight pages for the UK market have dealt with the shortage of electric vehicle data facing motor insurers and with how firms are handling claims after the whiplash reforms. Verisk's current pages describe the group as a strategic data analytics and technology partner to the global insurance industry, with solutions for general insurance, reinsurance and specialty markets, life, health and travel, and land and buildings data.