The squeeze on insurers’ margins is a dramatic change from the start of the pandemic, but there are innovations that can help segment risk more accurately and lower underwriting expenses. Modern credit-based insurance scores can improve the accuracy of rate segmentation, and with recent innovations, insurers can leverage the score immediately at quote for a fraction of the bind order cost – optimizing credit expenses precisely when it’s needed and saving up to $1.5 million annually for a single insurer.

To learn more, check out the on-demand webinar: An Inflection Point for Credit: Innovations for a Personal Auto Hard Market.

As a bonus, learn about new credit-based insurance score innovations planned for 2023.

By: Tim Grinde

Tim Grinde, underwriting product manager at Verisk, is responsible for product development and innovation related to credit-based insurance scores. He has more than 20 years’ experience working in insurance, including more than a decade at a top-10 personal lines carrier with specializations in underwriting, product management, claims, and change management, across both auto and property lines of business. Throughout his career, Tim has maintained an unwavering focus on successful new products that drive profitable growth.