Pouch Insurance Services chooses Milliman AccuRate score as usage-based insurance solution, launching them to the forefront of commercial auto insurance

SEATTLE, Nov. 14, 2022 /PRNewswire/ -- Milliman, Inc., the premier global consulting and actuarial firm, today announced that Pouch Insurance Services has chosen Milliman AccuRate Fleet^TM as its platform for usage-based insurance scores. AccuRate Fleet is a usage-based insurance score designed to enable more accurate pricing of fleet exposure and driving behavior risk. Developed by Milliman actuaries and data scientists, AccuRate Fleet is based on over a billion miles of commercial auto driving data and thousands of crashes.

"The Milliman AccuRate score allows us to offer extremely fair and accurate pricing to our customers and rewards them with lower rates for driving carefully and managing their fleets," says Steve McKay, CEO of Pouch. "Milliman's combination of statistical and regulatory expertise made the process a win for us."

Milliman AccuRate Fleet is a risk score relating driving behavior to the likelihood of a crash, and allows commercial auto insurers, MGAs, and startups to better match price to risk and improve retention of customers with safe driving habits. Unlike existing filed telematics scores, AccuRate Fleet is developed using over 2.7 billion miles of commercial auto data. These scores have been reviewed and approved by state insurance regulators for use in ratemaking.

"We are excited to help Pouch accelerate the launch of their innovative commercial auto program," says Peggy Brinkmann, a Milliman principal and consulting actuary. "The Milliman AccuRate Fleet score not only helps programs like Pouch's better match rate to risk, but also get to market quickly since it's been approved in 27 states and counting."

To learn more about Milliman AccuRate Fleet, visit https://us.milliman.com/en/products/milliman-accurate-fleet 

Milliman is among the world's largest providers of actuarial and related products and services. The firm has consulting practices in healthcare, property & casualty insurance, life insurance and financial services, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe. For further information, visit milliman.com.

Pouch rewards small businesses for safe driving. With instant quotes, simple sign up, and discounted rates based on your actual driving, Pouch offers a faster and smarter way to buy commercial auto insurance. With Pouch, small business owners can better track and manage their fleet and lower their bills. Learn more at pouchinsurance.com.

SOURCE Milliman, Inc.