Checkr Launches Insurance Solution to Provide Carriers with Fresh Verification Data
Checkr has launched an insurance solution designed to help auto, life, and home insurers access more accurate and up-to-date verification data. The new offering provides carriers direct access to identity, criminal records, public record information, and driving history from over 2,400 government sources. This aims to improve underwriting decisions by enabling faster evaluation of applicants with detailed offense classifications and real-time updates. The solution addresses the growing challenge for insurers as consumers increasingly shop around digitally, obtaining an average of 3.5 quotes before purchasing a policy. Carriers are struggling to balance verification costs while ensuring accurate pricing without losing potential customers due to delayed decisions or inaccurate initial estimates. Checkr's offering allows carriers to make more informed underwriting choices and pay only when applicants become policyholders. Michele Casertano, General Manager of Insurance & Trust at Checkr, emphasized the need for better data in a high-stakes industry where outdated information can lead to poor decisions.
Topics: AI verification data analytics insurance underwriting