Advisen Press Release: Advisen Exceeds One Million Programs for Benchmarking

Advisen

Contact: Matt Otepka

104° West Partners

206-855-7826

matt.otepka@104degreeswest.com

ADVISEN EXCEEDS ONE MILLION INSURANCE PROGRAMS FOR BENCHMARKING

Insurance Professionals Use Benchmarking to Gain Deeper Insights and More Favorable Terms Based Upon Advisen’s “Book of Business” of More Than 237,000 Companies

 

New York, April 30, 2007 – Advisen, Ltd., the leading provider of technology and data to the global commercial insurance industry, today announced that its benchmarking program database contains more than one million insurance programs. Advisen’s Program Benchmarking application compares current and historical premiums, limits and retentions directly, as well as relative to exposure and demographic values, against peer groups assembled from more than 237,000 commercial insurance buyers.

 

ADVx, Advisen’s premium change index which tracks quarterly average changes in renewal premiums, is based upon the insurance program information reported to Advisen for the benchmarking database and represents the most accurate, near real-time look at pricing in the dynamic insurance marketplace.  During the first quarter of 2007, the ADVx Composite, a weighted average of the property, general liability, workers’ compensation and Directors & Officers (D&O) indices, indicates the commercial insurance marketplace continues to soften.

 

“Premiums skyrocketed between 2001 and the end of 2003, more than doubling in some lines of insurance such as D&O liability and fiduciary liability. Since the beginning of 2004, rate levels have been deteriorating and the market is now well into the soft phase of the cycle,” states David Bradford, editor-in-chief, Advisen.  More detailed information on ADVx, including the Q1 2007 property, general liability, workers’ compensation, and D&O indices is available online within the Advisen workstation.

Representing $94 billion in premium, Advisen’s leading insurance program database has grown three hundred percent during the past 12 months.  Advisen’s robust tools enable both simple and highly sophisticated online benchmarking, and expose the content set’s tremendous breadth and depth. For example, a broker benchmarking Umbrella insurance, for construction and engineering firms, based in New York state, with less than $20 million in revenue, would find 615 programs within Advisen. Consolidated and normalized against the Advisen Master File’s two million entities, Advisen’s insurance program database integrates content from more than 2,500 insureds and more than 40 wholesale and retail brokers. 

Advisen Benchmarking allows insurance professionals to benchmark premiums, limits and retentions directly to similar organizations, as well as relative to exposure and demographic values including employees, revenue, market capitalization, profits, assets, retirement plan participants.  Insureds use the transparency of Advisen Benchmarking and ADVx to verify independently, current market pricing, to compare their insurance profiles to peers, perform trend analysis, and output presentation-ready graphics. Brokers use Advisen benchmarking to create and substantiate coverage recommendations during both renewals and new business acquisition.

Advisen Benchmarking is available to all current clients in Advisen 6.0.  For sales inquiries, please call 212.897.4800.

About Advisen

Advisen Ltd. equals success for insurance professionals, driving growth and profitability through the broadest platform of analytics and information services. Designed and evolved by risk and insurance experts, and used daily by more than 100,000 professionals, Advisen combines the industry’s deepest data sets with proprietary analytics and applications that drive the risk and insurance lifecycle. Advisen is headquartered in New York with offices in London.  For more information, visit www.advisen.com or call 212.897.4800.

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