Insurance Industry Perspective on Insurance Scoring
The insurance industry strongly supports the right of insurers to use credit information in their underwriting and rating decisions. According to the industry advocates, credit-based insurance scoring has been proven to be a strong predictor of insurance loss, allowing companies to more accurately underwrite and rate their business. As a result of credit-based insurance scoring, many companies affirm that they are now able to write more business with greater confidence, and that the vast majority of policyholders directly benefit - realizing better rates and more choices in the marketplace.
The following documents can help REALTORS® understand the insurance industry’s perspective.
American Insurance Association’s Study on Credit-Based Insurance Score
Insurance Information Institute Insurance Credit Scoring Page
