In nature, the ones that survive aren’t the biggest or strongest. They’re the ones that adapt the fastest. And in an accelerating Insurance market, the value of fast adaptation grows rapidly. And the consequences of failure are terrible.
Severity Is spiking and there
Auto claim severity is high and climbing:
- Bodily injury costs? +20% since 2020.
- Property damage? +47%.
- Total loss claims? +29% – now over 25% of all collision losses.
EVs are making it worse. Repair costs are unpredictable. And litigation is an accelerant, every auto innovation brings a new legal angle. Carriers try to cope with huge rate increases and then find that they’ve overshot. So much change means so much more risk to manage. Yet carriers are still focused on faster quoting, lead generation and prettier apps.
The source of the problem is simple: the industry has focused on getting better at servicing bad customers but not in selecting good ones.
The quoting flow is clean. The purchase experience is slick. But the risk? It’s hidden drivers, ghost vehicles, unreported businesses, and a lifetime of manipulative behavior. That’s the paradox: we’ve optimized for speed and scale but left visibility behind flying too fast in the fog.
This is where VeracityID steps in: We help you make risk selection precise and adaptive at POS and across the entire policy lifecycle. Without IT.
idFusionTM
- Identifies behavioral patterns – both good and bad – giving them the scrutiny that they deserve.
- Detects misrepresentation by using everything we know
- Tracks lifecycle risk- quote to claim – and feed it back into selection, pricing, and renewal.
- Works with your existing systems, enhancing the rules you trust with the truth they’re missing.
idFusionTM is risk and business selection built for success. Not just faster but smarter. Not just reactive but predictive.
