Life Insurance Industry Solutions

CreditVision

Convert good applicants into great customers.

Leverage behavioural insights for a more holistic view of overall risk.

In an increasingly commoditised market, insurers must quickly and accurately assess an individual’s risk profile to provide appropriate, personalised products. To do so — and make confident, profitable decisions — you need a holistic consumer picture.

This can be achieved using trended credit-based solutions — that help predict mortality risk and policy lapses — together with alternative data attributes to reduce quote times, optimise pricing strategies and enhance proactive risk segmentation.

CreditVision ® Life Insurance Product Suite combines the predictive power of mortality data and behavioural assessments. By combining best-in-class life insurance models to improve decisioning across the policy lifecycle, you can reduce and rationalise the need for wet medical examinations while accelerating the friction-right onboarding experience of valuable customers.

CreditVision Life Industry Score

CreditVision Life Industry Score

Accelerate profitable marketing and onboarding

Purpose-built for the life insurance industry, this enhanced, credit-based score is highly predictive of mortality, uses trended credit data to reflect long-term behaviour rather than short-term patterns, and provides a more holistic view of overall risk across the policy lifecycle.

CreditVision Alternative Data Variables

CreditVision Alternative Data Variables

Precisely assess markets and individuals within segments

Validated prefill consumer data considers credit and alternative data — including information on asset ownership data — to assist in calculating lifetime value and renewal elasticity and businesses insights for improved predictability.

CreditVision High-Risk Insurance Clusters

CreditVision High-Risk Insurance Clusters

Improve rating, retention and fraud management

Enhanced rating, retention and fraud models use additional information to flag potentially fraudulent policyholders, identify likely lapses, and improve and maintain acceptable loss ratios for more accurate prospecting, premium setting and product assignment.

CreditVision Lapse Score

CreditVision Lapse Score

Predict lapse rate within six months of inception or renewal

Trended variables, advanced segmentation and new modelling techniques — using current and predictive customer behaviours and pricing sensitivity insights — inform appropriate risk premiums and upsell and cross-sell decisions.