New stand-alone coverage introduced under personal inland marine program
Jersey City, NJ (Sept. 27, 2018) – ISO, a Verisk business, has launched a new personal inland marine solution to help insurers meet the personal property coverage needs of millennials and other consumers who may not stay in one place for long.
The new Your Belongings solution enables insurers to offer coverage on personal possessions for policyholders while anywhere in the world. The coverage is designed for growing segments of the population, from millennials to empty nesters, who are living more mobile lifestyles and don’t feel they need traditional homeowners or renters insurance.
“There’s a need for new solutions for today’s customers-those who lead a less traditional lifestyle and don’t put down roots in one place,” said Doug Caccese, president of ISO Personal Lines. “But these customers still need coverage for items that travel with them, including their clothing, jewelry, and personal electronics. The Your Belongings coverage gives insurers an opportunity to earn customer loyalty by providing critical protection at every stage of their journey.”
This solution follows ISO’s introduction of a personal property endorsement for personal auto policies, which meets drivers’ needs to cover their possessions when they may not have homeowner or renters insurance coverage. Your Belongings contains long-standing policy language and flexible coverage limits for many perils a policyholder may face, and it’s backed by ISO’s experience and reliability in designing programs. ISO has filed the new coverage in the majority of states and will continue through the remainder of 2018.
For more information about the Your Belongings coverage and ISO solutions for millennials, visit verisk.com/millennials.
ISO, a Verisk business, is a leading provider of advanced tools and analytics for the property/casualty insurance industry. Drawing on unique data assets and deep domain expertise, ISO products and services help insurers underwrite and price risks with greater precision and efficiency and manage claims more effectively across the spectrum of commercial and personal lines of insurance. For nearly 50 years, ISO has been a leader in developing innovative solutions and working with multiple stakeholders in the property/casualty insurance marketplace, including insurers, reinsurers, third-party administrators, agents and brokers, insurance regulators, and risk managers. For more information, please visit www.verisk.com/iso.
Verisk (Nasdaq:VRSK) is a leading data analytics provider serving customers in insurance, energy and specialized markets, and financial services. Using advanced technologies to collect and analyze billions of records, Verisk draws on unique data assets and deep domain expertise to provide first-to-market innovations that are integrated into customer workflows. Verisk offers predictive analytics and decision support solutions to customers in rating, underwriting, claims, catastrophe and weather risk, global risk analytics, natural resources intelligence, economic forecasting, and many other fields. Around the world, Verisk helps customers protect people, property, and financial assets.
Headquartered in Jersey City, N.J., Verisk operates in 30 countries and is a member of Standard & Poor’s S&P 500® Index. In 2017, Forbes magazine named Verisk to its America’s Best Mid-Size Employers list and to its World’s Most Innovative Companies list. Verisk is one of only seven companies to appear on both lists. For more information, please visit www.verisk.com.
Source: MWWPR for ISOTags: ISO, Millennials, solution, Verisk