Insurance

Reduce risk upfront, manage risk at renewal and claims, and identify new market opportunities by better predicting policyholder behaviour. Our solutions combine credit bureau information, insurance industry data hosted by TransUnion, models developed by TransUnion Analytic and Decision services and automotive-specific information from TransUnion Auto Information Solutions.

We can bring our extensive industry experience and strength in data and analytics to your company in:

• Risk Management—Reduce risk and make faster, accurate decisions. Use our Lapse Models, Loss Ratio Models and credit data to rate individuals before underwriting. Get accurate vehicle information and values so you can underwrite appropriately.
  
• Policy Management—By applying credit data to predict insurance-specific outcomes, you can reduce your lapse and loss ratios and price appropriate premiums at renewal. Integrate credit data into your decision-making to better prioritise and streamline your claims processing.
  
• Marketing Solutions—Target individuals most likely to purchase a policy. Segment your policyholders and identify which current relationships could be more profitable.
  
• Fraud and Identity Management—Take advantage of shared claims and policy data in the Insurance Data System, as well as other data sources such as the National Transport Information System and our Auto Information Solutions (see below). Verify an individual’s assets or entities. Identify and prevent fraud through proactive alerts. We can also help trace policyholders who have committed fraud.
  

It is more important than ever for an insurer to manage vehicle-related risk at the underwriting and renewal stages. TransUnion Auto Information Solutions is a key source of vehicle information to make informed decisions when insuring vehicles, such as:

• TransUnion’s Auto Dealers Guide, with industry-recognised vehicle values to help determine premiums and claim payouts
• The ability to query the current status of a vehicle through our Vehicle Verifications enquiry service—supported by the National Association of Automobile Manufacturers of South Africa
• Access to manufacturer particulars, any current financing arrangements, stolen indicators, and odometer histories

Make more accurate risk decisions with a comprehensive view of insurance risk across the industry. Collaborative data pooling makes it possible to build a single, integrated view of policyholders, their assets and previous performance or location. When you share data with TransUnion, you enjoy easy access to up-to-date information on all short-term claim and policy information. You can streamline claims processing, make consistent risk assessments before underwriting and lower the cost of writing business.