Commercial insurance applications are often long and complex, requiring the applicant to recall and enter a lot of information that may not be readily available to them such as their standard industry classification (SIC or NAICS) codes or Tax ID. Experian can provide commercial data in real-time to minimize applicant data input.
Experian’s robust datasets can help prefill fields on insurance applications, which can ultimately streamline the quote to bind process for commercial insurance products.
A minimum amount of information is needed from the business owner– just the company name, business address, city, state and zip.
All Prefill data can be provided via API for full automation. Comprehensive insight on new submissions can improve the speed to quote and policy issuance.
Any decision is only as good as the data it’s using – so using various data sources that corroborate each other is a crucial part of any decision.