For over 70 years, Central Analysis Bureau, Inc. has been an important part of the underwriting plan for the commercial auto and inland marine insurance industry. With its unique understanding of all aspects of the trucking industry, CAB has developed a proprietary rating system which, based on a series of specific ratios and equations, is utilized to analyze a motor carrier’s financial records to determine the financial strength of that carrier. For years, the name CAB has been synonymous with financial analysis, and an acceptable CAB rating is a prerequisite for many underwriters.
Financial analysis is a critical element in the underwriting process given its proven correlation to a company’s safety performance. As the trucking industry has changed over the years and laws and regulations have grown more complicated, additional factors must be analyzed by underwriters in order to better understand and evaluate a new risk or a renewal. In an industry which requires quick turnaround when quoting new business and up to date information on timely renewals, the steps to complete this full analysis have become time consuming, confusing and often incomplete. Underwriters are forced to turn to different web sites to obtain bits of safety, licensing, vehicle, commodity and insurance information. Many of the websites convey conflicting information due to the lack of a single unified database. Once collected, an underwriter needs to process the information, determine the inconsistencies and then evaluate the information, still not really knowing if all of the correct information has been obtained.
CAB has focused on this problem and launched the development of its “Know Your Insureds” program, which is designed to expand our reports and services to include analysis of all critical motor carrier information. Our goal is to unify all the available data to allow for immediate cross-referencing of the available data, and to offer our analyzed data in various different formats to all segments of the insurance industry including a comprehensive, intuitive report for an underwriter, monitoring and customized management tools for managers and loss control, and various other end-user tools designed to assist claims adjusters and SIU with researching information about a particular account when reviewing a claim. We identify issues which should be of concern to and insurer, including, but not limited to, financial instability, vehicle and operational information, safety concerns, and insurance filing errors.
As the precompiled data found on various government web sites is often inconsistent or incorrect, we have created programs to analyze the raw data and provide a true reflection of your insureds’ operations. These programs allow us to profile motor carriers in a way never before offered, and simultaneously eliminate much of the error and oversight caused by manual research.
Although CAB has long been a tool of the underwriting department, these premium services can provide substantial no additional cost information for your claims, loss prevention and SIU departments. With all these departments utilizing these services the cost factor is further reduced.
We hope that this website can provide you with a glimpse of the various reports and services available. It is noteworthy, however, that many of the reports have customizable features that can be modified to meet your particular needs. CAB’s staff is committed to working together with you to ensure that your company is able to get the most out of the data that we have available, and to guarantee that the information you receive is in a format that is comprehensible and easy to use by your staff. We truly believe that once incorporated into your underwriting, claims and loss prevention operations, CAB will be your one stop portal for all your motor carrier information needs.
