The TruckBody IQ™ API

Advanced analytics and automation API to reduce premium leakage for Commercial Auto


{
     "modelId": 405769,
     "modelName": "ACMD64",
     "manufacturerId": 59,
     "manufacturerName": "AUTOCAR",
     "sizeClassId": 503,
     "sizeClassName": "8",
     "modelYear": "2018",
     "configurationId": 1321140,
     "MSRP": 157241,
     "unadjustedFinance": 60952,
     "unadjustedRetail": 81269,
     "unadjustedWholesale": 67697,
     "unadjustedTradeIn": 69079,
     "bodyValues": {
          "revisionDate": "2020-07-01",
          "lowMSRP": 2938,
          "highMSRP": 29382,
          "averageMSRP": 15180,
          "medianMSRP": 12489,
          "lowRetail": 2021,
          "highRetail": 20240,
          "averageRetail": 10456,
          "medianRetail": 8632
     }
}

The TruckBody IQ™ API

According to Price Digests’ primary research, an estimated 65% of commercial trucks are underinsured.

TruckBody IQ™ is designed, specifically, to increase quote accuracy during the underwriting process, help mitigate risk for the insurer, and reduce premium leakage on underinsured commercial vehicles. TruckBody IQ™, coupled with Price Digests’ industry leading commercial truck VIN prefill solution, increases the accuracy of Original Cost New (OCN) calculations to support premium lift.

The integration of these critical new data points empowers commercial auto carriers to:

  • Improve Speed to Quote
  • Enhance Accuracy
  • Reduce Premium Leakage
  • Mitigate Overall Risk
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TruckBody IQ™ fills in the gaps between the underreported OCN from the traditional VIN prefill versus the actual OCN with the equipped truck body.  Combining advanced analytics with automation increases speed to quote, reduces premium leakage, mitigates overall risk, and drives enhanced accuracy in the rating, underwriting, and quoting processes.

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TruckBody IQ™ API:

– GET Commercial Truck Original Cost New: Estimated High Value
– GET Commercial Truck Original Cost New: Estimated Median Value
– GET Commercial Truck Original Cost New: Estimated Average Value
– GET Commercial Truck Original Cost New: Estimated Low Value

Ideal for:

– Integrating information for more accurate quotes for Commercial Trucks in the underwriting process
– Capturing more accurate and complete commercial vehicle information
– Maintaining speed during the quote process
– Reducing exposure to risk in undervaluing commercial auto