transunion News

Inflation Drives 33% Surge in Auto Telematics Adoption in Q1 2022: TransUnion

TransUnion’s latest Personal Lines Insurance Shopping Report found the number of consumers who accepted a telematics offer from their auto insurance provider increased 33% since the end of 2021—a trend driven by consumers hoping to lower their premiums by demonstrating …

Fairness Testing: The Insurance Industry Needs to Align on Best Practices

This post is part of a series sponsored by TransUnion. Social and regulatory attention has been using fairness and equity as a lens to evaluate the outcomes of existing processes like insurance underwriting. For example, a new law in Colorado, …

Insurance Technology: Catalyit; CyberCube; Tremor; TransUnion and e2Value

Anderson, Catalyit Offer Technology Resource for Agents Headed by agency technology consultant Steve Anderson, Catalyit has assembled a team of insurance industry tech experts to launch a new technology resource for independent insurance agents. The Catalyit platform promises to bring …

Removing Insurance Risk Scores From Personal Lines Rating Is Not the Answer for Fairness and Consumer Financial Hardship Concerns

This post is part of a series sponsored by TransUnion. Insurance pricing is a complex, multi-variate process. One important variable in the mix is a credit-based insurance score (hereafter, insurance risk score). That’s not the same thing as a credit …

What Property and Casualty Insurers Need to Know About Using Credit in Underwriting

This post is part of a series sponsored by TransUnion. Credit-based insurance risk scores draw from credit data to more accurately assess consumer risk and improve the underwriting process Today, credit-based insurance scores are widely used by the personal property …

Supreme Court Limits Plaintiff Class in TransUnion ‘Terrorist List’ Case

The U.S. Supreme Court on Friday narrowed the scope of a class action lawsuit against TransUnion in which thousands of people sought damages after the credit reporting company flagged their names as matching those on a government list of suspected …

Supreme Court Could Use TransUnion ‘Terrorist List’ Case to Curb Class Actions

The U.S. Supreme Court on Tuesday signaled it could narrow the scope of a class action lawsuit against TransUnion in which thousands of people sought damages after the credit reporting company flagged their names as matching those on a government …

3 Ways COVID-19 Will Continue to Impact Insurance Industry in 2021

The effects of the COVID-19 pandemic will be felt by the insurance industry and its customers well into 2021 as consumers and businesses continue to face economic challenges, according to a new survey by consumer credit reporting firm TransUnion. Insurance …

Congress Looks to ‘Reimagine’ Credit Reporting Industry

The nation’s major credit reporting agencies faced renewed scrutiny from Congress on Tuesday, as lawmakers consider legislation overhauling the industry. Top executives from the three major credit reporting agencies – Equifax Inc, Experian Plc and TransUnion – had to defend …

Data Firm TransUnion Buys Driving Records Provider Datalink

Data provider TransUnion sad it has completed the acquisition of Datalink Services Inc., also known as Compass Driving Records, a nationwide provider of vehicle and driving records and driver pre-screening services. Chris Cartwright, president of TransUnion’s USIS division, said Datalink …