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Actuaries Have Special Role When Explaining Credit Scores and Losses

National News • November 16, 2007
By explaining why there is an association between credit scores and insurance losses, insurers and actuaries can promote a better understanding of why credit scores are a useful underwriting tool, ...

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Subject: RE: Credit Scoring

Posted On: November 16, 2007, 9:52 am CST
Posted By: Lowell
Comment:
Credit scoring is the most important rating factor. Auto and homeowners rates are based on risk. Driving record, age, sex, marital status, type of vehicle, choice in past on coverages, territorial riskiness, living near storm areas, are all measures of risk RESPONSIBILITY... Credit scoring is one more measuring tool that separates every level of risk's responsibility. 10000 persons with no claims history in past five years will have 1000 or so auto claims in the next 12 months. Since none of them have a past claim's history...the most accurate measure to group those least likely to have a loss as a measure of responsibility...Credit scoring does that best.
Subject Posted By Posted On
RE: traditional rating still the primary factor-to Lori Kent
Dec 3, 2007, 12:25 pm
RE: : using credit scores to raise insurance rates- to Lori Kent
Dec 3, 2007, 11:51 am
RE: RE: RE: using credit scores to raise insurance rates Dustin
Dec 3, 2007, 8:36 am
RE: RE: using credit scores to raise insurance rates LORI
Dec 3, 2007, 8:23 am
RE: using credit scores to raise insurance rates Dustin
Dec 3, 2007, 8:13 am
using credit scores to raise insurance rates Lori
Dec 3, 2007, 8:09 am
RE: credit scoring: fraud and loss ratios - to Dustin Kent
Nov 19, 2007, 2:42 pm
RE: RE: RE: credit scoring: fraud and loss ratios Nebraskan
Nov 19, 2007, 1:08 pm
RE: RE: credit scoring: fraud and loss ratios Dustin
Nov 19, 2007, 1:00 pm
RE: credit scoring: fraud and loss ratios Nebraskan
Nov 19, 2007, 12:55 pm
credit scoring: fraud and loss ratios Kent
Nov 19, 2007, 10:52 am
Credit scoringm the WHY and lower rates Stat Guy
Nov 19, 2007, 10:18 am
RE: Policyholders want lower rates...... Gill Fin
Nov 17, 2007, 11:31 am
Policyholders want lower rates...... Gill Fin
Nov 17, 2007, 11:25 am
RE: Credit Scores & Insurance Bill
Nov 16, 2007, 3:34 pm
Credit Scores & Insurance Hon. Scott A. Adamsons
Nov 16, 2007, 3:22 pm
RE: The other WHY of Credit Scoring Patrick Butler
Nov 16, 2007, 2:15 pm
RE: RE: Credit Scoring Dustin
Nov 16, 2007, 1:34 pm
RE: Credit Scoring Reagan
Nov 16, 2007, 1:25 pm
RE: RE: Credit Scoring Lynne
Nov 16, 2007, 11:46 am
RE: Credit Scoring Lowell
Nov 16, 2007, 9:52 am
Credit Scoring Dustin
Nov 16, 2007, 9:23 am
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