CreditVision® Insurance Risk Score
Modelled on Canadian insurance performance data, the CreditVision Insurance Risk Score predicts insurance loss risk more accurately than traditional credit scores.
Product Capabilities
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
The score is tailored toward the target variable of a customer filing a claim within 12 months of a policy term.
Backed by global insurance expertise
The CreditVision Insurance Risk Score model draws on advanced algorithms and insights shaped by deep experience across global insurance markets.
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.
Sharper risk segmentation. Stronger insurance results.
See how the CreditVision Insurance Risk Score helps Canadian insurers segment risk more precisely and reduce loss costs across the portfolio.
SHARPER SEGMENTATION
See risk with greater precision
Our validations show the CreditVision Insurance Risk Score can deliver more than 2x improvement in loss cost segmentation compared with other TransUnion standard delinquency scores — helping you identify, price and manage risk with greater confidence.
You'll gain:
Over 2x improvement in loss cost segmentation versus other TransUnion standard delinquency scores
1.6x improvement in top-to-bottom risk segmentation versus standard delinquency scores
Insurance-specific scoring built on trended credit data and Canadian insurance performance
PROVEN RESULTS
Drive measurable cost savings
Validated against insurance performance data from six Canadian insurance carriers between 2016 and 2021, the CreditVision Insurance Risk Score helps you reduce losses and improve the return on every dollar spent on risk assessment.
You'll see:
Up to 3x improvement in loss cost versus TransUnion Risk Scores
Upwards of 30% increase in overall cost savings at a 10:1 savings-to-spend ratio
Validated performance across major Canadian insurance carriers
¹ TransUnion 2002 Credit Risk Score (TUO2), TransUnion 2009 Credit Risk Score (TUO9), CreditVision Score, CreditVision Bankruptcy Score ² The percentage of time a claim is likely to occur within a given year ³ Decile 1 = bottom 10% of scores, decile 10 = top 10% of scores
HOW IT WORKS
All insurers need deep customer insight
Improve portfolio management strategies through a richer comprehension of behaviours that contribute to insurance risk.
- Enhance risk segmentation
- Build capability for accurate pricing
- Lower loss ratio
- Improve conversion rates
- Help avoid adverse selection
Learn more about the CreditVision Insurance Risk Score
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