Verisk’s Tracey Waller Wins Business Insurance 2022 Breakout Award
Tracey Waller, director of small commercial underwriting at Verisk, has won a 2022 Breakout Award from Business Insurance magazine. The Breakout Award honors 40 top professionals on track to be the next leaders in the risk management and property/casualty insurance industry.
In this year’s highly-competitive field, Waller was recognized for her work leading the development, launch and ongoing success of Verisk’s innovative solution, LightSpeed® Small Commercial. The solution delivers holistic insights on business risks in seconds and can help small commercial insurers win the race to zero questions on insurance applications. The proprietary artificial intelligence and machine learning platform leverages text and image analytics and over 60 new data sources to deliver robust underwriting insights. These insights, available on nearly every small and mid-sized business in the country, can be accessed by insurers using only a business name and address.
Understanding client needs was central to the development of LightSpeed Small Commercial and critical to its ongoing success. In today’s small commercial market, insurers are looking for new sources of data and insight to enhance their underwriting while leveraging greater automation to drive efficiency and scale. While many personal lines carriers have embraced accelerated underwriting based on rich datasets of individual risk, many small commercial insurers were limited by a lack of viable solutions. To address this critical gap, Waller oversaw the development of the solution, working with Verisk’s data scientists, product, legal, sales and marketing teams. Waller served as a critical bridge between internal and external stakeholders, leading customer engagements and helping her internal team execute on clients’ business priorities.
“Tracey saw an industry challenge and approached the solution with vision, creativity and dynamic leadership,” said Ron Beiderman, senior vice president, commercial lines underwriting solutions, at Verisk. “The Business Insurance Break Out Award is a reflection not simply of her success in product innovation, but in nurturing the next generation of leaders at Verisk. From mentoring her teammates and direct reports, to forging strong relationships across our organization and our industry, Tracey truly exemplifies Verisk’s values.”