Who’s using what: August 31, 2015

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Verisk Analytics announced the selection of its iiX unit to participate in a pilot of the Texas Driver Record Monitoring Service (DRMS). With the new service, employers and insurers will be able to monitor driver records of Texas-licensed employees and Texas-insured drivers for adverse activity, such as a driver license status change or a new moving violation. Driver-monitoring services for employers are offered through the iiX DriverAdvisor Monitoring program and for insurers through the Verisk Insurance Solutions Driver Monitoring service. The driver-monitoring services for Texas will be offered starting in the fall of 2015.

Verisk Insurance Solutions has introduced new rating tools and coverage options through its ISO business. The new tools will help insurers address the quality and age of roof materials, one of home insurance’s biggest challenges today. The newly developed rating factors will aid insurers in pricing policies based on the age and type of roof material without adjusting the current replacement cost coverage provided for roofs under the base policies. Endorsements that can lend to premium savings for policy holders are included in the new coverage options. Insurers will also benefit from effective management of roof loss exposure.