Risk

Callcredit provide a range of risk solutions that insurers can use to evaluate a customer’s risk profile, thus enabling smarter decisions regarding the likelihood of a customer fulfilling their credit commitments.  Managing risk within insurance can be difficult with uncertainty on an individual’s financial situation. 

CallReport

CallReport is a credit report that can provide insurers with access to each applicant’s credit information. This report includes:

  • Access to the Electoral Roll, including history for the applicant and other householders
  • Access to public information such as Court Judgements, IVA’s and Bankruptcies
  • Monthly account performance data showing balances, limits, and arrears history to enable a thorough assessment of an applicant’s financial performance and indebtedness
  • Geo-demographic  risk scoring derived at a postcode level
  • Gauge is a suite of credit scores which have been developed using full SHARE data, default-only SHARE data and only public data. You have access to the most powerful score you are eligible to use
  • Credit search information
  • Address information that provides searchable previous and forwarding addresses link data

The data returned from this can be used to help insurers to price and optimise their strategy by using the data to help predict such things as:

  • Propensity to Claim
  • Claim Severity
  • Credit Risk
  • Propensity to Cancel
  • Propensity to Renew
  • Propensity to buy other products

DataDNA

DataDNA is a unique number that has been allocated to every individual in the Callcredit database. This number can be appended to historic, active and new customers across multiple products to allow the insurer to benefit from the matching logic and address information held by Callcredit to get a single view of the customer and bring together all information they hold.

This single view of the customer helps the insurer move from a policy focussed process to a customer process which helps insurers to maximise the benefits of their own data which can provide a range of benefits across the customer lifecycle such as:

  • Optimised pricing strategies
  • Fraud Identification
  • Better claims management
  • Enhanced Cross sale and renewal processes.

To find out more about our insurance specific risk solutions contact us and one of our specialists will contact you shortly.

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