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 CreditVision®

Insurance Risk Score

The first of its kind credit-based insurance risk score built for Canadian property and casualty carriers

 

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Enhance risk segmentation

Designed for Canadian insurance carriers, this credit-based insurance score has been modelled and built on Canadian insurance performance data. It can help you gain a better understanding of your customers to refine the accuracy of risk segmentation.

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Elevate pricing sophistication

Facilitating a greater prediction of insurance risk than traditional credit scores, the CreditVision® Insurance Risk Score offers the ability to price more accurately and manage portfolios more effectively.

Improve consumer access and affordability

This powerful risk score helps you provide the right coverage at the right price, leading to improved loss ratios and greater access to fairer prices for your customers.

All insurers can benefit from deep customer insights.

Improve your strategies through a richer comprehension of the behaviours that contribute to insurance risk.

 

 

GET CREDITVISION INSURANCE RISK SCORE

The first of its kind in Canada

  • The CreditVision Insurance Risk Score has been created and fine-tuned based on data from the Canadian property and casualty insurance market.

More accurately price risk against insurance losses

  • The model targets Canadian Insurance losses and is comprised soley of credit attributes associated with behaviours that could lead to an insurance loss.

 

Complement your capabilities

 

Benefit from global insurance experience

  • The CreditVision Insurance Risk Score model draws from advanced algorithms and benefits from our extensive global insurance experience. 

Provide a more actionable view of risk

  • Our solution incorporates longitudinal data which takes into account trending and historic consumer behaviours. This helps us score a vast population and provide a more accurate review of potential risk. 
So - 1
Our validations have shown that the CreditVision Insurance Risk Score can offer over 2x improvement in loss cost segmentation when compared to other TransUnion standard delinquency scores.1     

Results to date

  • Validations show a 1.6x improvement in top-to-bottom segmentation versus other standard delinquency scores1
  • The CreditVision Insurance Risk Score can lead to 3x improvement in loss cost vs TransUnion Risk Scores
  • Estimates have shown upwards of a 30% Increase in overall cost savings on a 10:1 savings-to-spend ratio
     
1TransUnion 2002 Credit Risk Score (TUO2), TransUnion 2009 Credit Risk  Score (TUO9), CreditVision Score, CreditVision Bankruptcy Score                 
2the percentage of time a claim is likely to occur within a given year
3Decile 1 = bottom 10% of scores, decile 10 = top 10% of scores

If you’re a consumer with questions or issues related to your personal credit report, disputes, fraud, identity theft or credit monitoring services, please visit our https://secure-ocs.transunion.ca/secureocs/home.html.

Disclaimer: Please note that consumer responses submitted through this form will not be actioned.

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