FICO® Insurance Risk Scores
Fair Isaac® Insurance Risk Scores
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FICO® Insurance Risk Scores

FICO® Insurance Risk Scores give property and casualty underwriters an instant assessment of applicant or policyholder risk, based on credit reporting agency data. These industry-leading scores help more than 300 insurers in North America make more targeted decisions based on future loss ratio. FICO also offers scores that assess property risk based on property inspection and application information.
Key Benefits
  • Increase book of business profitability
    By using FICO Insurance Risk Scores as part of your risk assessment, you can make more profitable accept/decline and product pricing decisions, more successful offer targeting, more effective allocation of underwriting resources, more precise tier placement, and an enhanced ability to maximize cross-sell opportunities.
  • Improve customer service
    With an accurate rank-ordering of the future performance of insurance applicants and policyholders, insurers have the power to address various customer segments' needs more appropriately, while reducing the time needed for underwriting decisions.
  • Build a richer picture of risk 
    FICO Insurance Risk Scores evaluate risk based on consumer credit repository data, giving you a picture of risk based on another source: the consumer's credit history. Studies have proven that these scores effectively rank-order insurance loss ratios.
Feature Highlights
  • Rank-order applicants and policyholders by their future loss ratio
    FICO applied its extensive insurance industry expertise and tested predictive analytic technologies to build models that accurately indicate the expected loss ratio of a prospect, applicant or policyholder.
  • Suite of models for more targeted risk assessment
    Multiple scoring models provide more precise risk assessment for different sub-populations. Each account is scored by the right model based on the information in the consumer's credit history.
  • Based on credit reporting agency data 
    FICO Insurance Risk Scores analyze the data in a consumer's report at a credit reporting agency. This rich data is an invaluable record of a consumer's responsible financial behavior, and provides another view of consumer behavior, beyond application data, MVRs and other data used in insurance decisions. In development, FICO matches this credit report data against a performance database containing a broad sample of policyholders' claims payment information from national and regional insurers.
  • Uses across the customer lifecycle
    Insurers use FICO Insurance Risk Scores to make more successful decisions in customer acquisition, underwriting and account management.
Versions
  • FICO Insurance Risk Scores are available as:
    • FICO Insurance Risk Score (auto and property) at TransUnion
    • CPLS (Canadian Property Loss Score) at Equifax in Canada
    • Experian/FICO Insurance Score (auto and property) at Experian (delivered by ChoicePoint)
    • InScore (auto and property) at Equifax
Related Products - Property Risk Scores
  • Property PredictR™ score - a FICO Insurance Score from Millennium Information Services
    In addition to our Insurance Risk Scores, FICO has developed the first score that uses property inspection data to quickly assess property risk. This score is delivered through Millennium's Automated Property System (MAPS), a platform for new, renewal and re-underwriting property inspection processing. Visit the website.
  • PrePredictR™ score
    This score helps insurers more effectively segment property risks at the point of application, for more objective and consistent underwriting and pricing decisions. PrePredictR score analyzes application information to provide early insight into the risk of loss offered by a new applicant and offers key information that can be used within an insurer's underwriting and pricing considerations.

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Speak with a FICO representative about our solutions and your business needs by calling us:

US (toll free): +1 888 342 6336
International: +44 (0) 207 940 8718

Or email us using the form on this page. We look forward to speaking with you.
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