Data Solutions
  • Articles
  • January 2018
  • 5 minutes

Taking Credit: The Predictive Power of Credit Data to Accelerate Underwriting for Life Insurers

Credit Data
In Brief
Results from Limra’s 2017 Insurance Barometer Study found that 70% of Americans who would consider purchasing life insurance are interested in doing so without taking a physical exam. But how can insurers meet consumer demand for convenience and accurately assess applicant risk?

Contact the RGA client services team to learn more about the predictive power of credit data in risk assessment.

See also: A Score for All Seasons: Big Data Bring Big Changes in Underwriting

These findings have been used to create TransUnion TrueRisk® Life, a credit-based insurance score designed specifically for life insurance and that uses select, predictive attributes of a consumer’s credit report. The next step in the evolution of risk assessment has arrived. 

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Meet the Authors & Experts

Dianne Schuetz
Dianne Schuetz
Vice President (ret.), Strategic Underwriting Initiatives, RGA


Copyright© A.M. Best Company, Inc. 2017. All Rights Reserved. Reprinted with Permission.