When it comes to credit-based insurance scoring, the insurance industry needs to educate people about how it works and why it works, otherwise we will lose it as an underwriting tool. I have been following this issue for a few years now, and the controversy surrounding credit-based insurance scores is not going to go away. The insurance industry tends towards a “father knows best” mentality, and the insurance-buying public isn’t believing it anymore. Proactively educating people is always a worthwhile investment.
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When it comes to credit-based insurance scoring, the insurance industry needs to educate people about how it works and why it works, otherwise we will lose it as an underwriting tool. I have been following this issue for a few years now, and the controversy surrounding credit-based insurance scores is not going to go away. The insurance industry tends towards a “father knows best” mentality, and the insurance-buying public isn’t believing it anymore. Proactively educating people is always a worthwhile investment.