Utilizing the Algorithm To avoid underestimating the OCN, insurance carriers can and sometimes do request additional information about the final truck 35% configuration during the quoting process. However, this additional information request can extend the time to quote and put the potential sale at risk. t is also common for agents to populate their best guess 65% for the truck configuration, which is often inaccurate. Neither of these scenarios are ideal for the insurance carrier and do not address their need for access to fast, automated, accurate information to help them assess the risk, price it accordingl, and ultimatel win the business. new development in the insurtech space, however, will arm insurance carriers with better information so the can begin to correct those understated premiums. Complete Incomplete everaging advanced analtics based on decades of realworld data and a deep understanding of industrspecific truck configurations, it In an analysis of commercial trucks is possible to predict final buildouts and get a far better estimate of conducted by Price Digests oer OCN. oing this in an algorithmic wa means it can happen instantl of te trucks insured by commercial and seamlessl within the quoting process, minimi ing the time to lines carriers are classified as quote while enhancing accurac. incomplete trucks. Find out more Price Digests • Reducing Commercial Auto Risk Exposure • pricedigests.com • 7
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