Lansing, MI and Jersey City, NJ, Aug. 25, 2020 (GLOBE NEWSWIRE) — Verisk (Nasdaq:VRSK), a leading data analytics provider, and Farm Bureau Insurance of Michigan (Farm Bureau Insurance), announced today that Farm Bureau Insurance will adopt Verisk’s LOCATION® platform to maximize its use of Public Protection Classification (PPC®) for precise, address-level measurement of the strength of fire protection for insured properties.
Farm Bureau Insurance will use LOCATION, which can deliver address-level information on a variety of risks, to drive PPC’s fire protection grading deeper into its underwriting workflow. The PPC program provides grades to communities across the United States based on their fire prevention and suppression systems.
“In conjunction with our digital transformation initiative to streamline our underwriting operations, we analyzed how we could move beyond manual entry of fire protection data at point of sale to capture this critical risk factor with greater precision,” said Dawn Elzinga, Vice President of Underwriting and Actuarial at Farm Bureau Insurance. “It’s an opportunity to achieve more accurate pricing for our customers and stronger…
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