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I was at Insurtech a few weeks ago in Vegas. There was a good conversation on Credit score.
I would boil it all down to this one statement. Credit score (Insurance score: Whatever) is predictive . But just because you CAN run a predictive credit score does not mean that you should.
Would love to hear your thoughts.
I will throw in a few zingers to heat things up:
I would boil it all down to this one statement. Credit score (Insurance score: Whatever) is predictive . But just because you CAN run a predictive credit score does not mean that you should.
Would love to hear your thoughts.
I will throw in a few zingers to heat things up:
- If I pay my $2,000 mortgage on time, my credited score goes up. If I pay my $2,000 rent on time, it does nothing for my credit score.
- If we don't use predictive credit scores in insurance because.... Then where else do we stop using credit to determine things like Loans. credit limits, car purchases, Rental agreements, interest rates, etc..