Scoring model "4Score" from BCI "Equifax" - 1BiTv.com

Scoring model "4Score" from BCI "Equifax"

(Automatic translation)
Scoring model "4Score" from BCI "Equifax"

RESO-Garantia optimizes the system of decision-making on issuing policies


The insurer integrated the scoring model "4Score" from the Bureau of Credit Histories "Equifax" into the risk assessment system when concluding policies on retail types of insurance.
The scoring model was put on the market in mid-2017 and built on the basis of the database, accumulated in the Bureau, which currently has more than 250 million credit histories. The analysis, carried out jointly by specialists of RESO-Garantia and Equifax, revealed a high correlation of negative trends in the credit history of a physical person with losses on its policies. This allowed without any further development and as soon as possible to assess the effectiveness of the scoring model when issuing insurance policies and implement it in commercial operation.

"Our company is constantly in search of new factors that affect the main indicators of the portfolio and its unprofitability. We strive to maximally differentiate the fare on the hull and make it almost individual for each client. The more information about the owner and the object of insurance is analyzed, the more accurate the assessment of the degree of risk in each case, - says the head of the retail insurance department of RESO-Garantiya Elena Zlygorova. The results of the retro-testing of scoring models of BCI "Equifax" helped us to find additional parameters that have a significant impact on the result of the portfolio of the casco. In this regard, as soon as possible, we integrated this scoring assessment into our tariffication and underwriting policy from the beginning of 2018. "

Oleg Lagutkin, General Director of the BCI "Equifax": "Risk management is certainly one of the key tasks of insurance companies. Formation of the risk profile of the client is an extremely labor-intensive and complex process in any organization, and we are extremely pleased that we can provide a quality service for one of the leaders of the insurance market - the insurance company RESO-Garantia. Such cooperation is beneficial not only for our two companies, but for every client of an insurer who receives better service. "

27.04.2018 10:54:05

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