This enables us, collectively, to:
Focus: Our ongoing commitment — made to the market more than 20 years ago — is to thoroughly vet our risk scoring models.
Execute: That dedication has never wavered, even in a pandemic. Our focus is your focus, from constantly improving the consumer experience to helping you meet your strategic objectives as an insurer.
Educate: Educating the market is part of our DNA. Our team here at LexisNexis Risk Solutions welcomes questions about our models and their performance, especially in the time of a pandemic where interest in credit-based insurance scoring runs high. We hope this e-book answers your questions about the stability of our scores.
Continue to Drive Positive Outcomes for Consumers: Our process includes internal analysis and development, regulatory review and ongoing monitoring. Carriers should review their processes when a consumer claims an Extraordinary Life Circumstance. While it’s familiar to many due to natural disasters, the process is vital in helping consumers during this current catastrophe and leading to positive outcomes.
Look for another update from us soon. We will continue to monitor our scoring results, and our team promises to keep on top of any new or emerging regulatory requirements.