Re: Re: Re: Re: Hung up on by insurance company!! II have reviewed every single statistical study I could find on insurance scoring except for the Tillinghast study that is often cited by the insurance industry as supporting the use of insurance scoring. I have been unable to find a copy of that study. However others that have seen it have pointed out serious flaws. Every single study I have reviewed, and I mean every one, is either unverifiable, as in the data used to conduct the study is generally unavailable, has serious methodological errors, or has conclusions that are inconsistent with its own reported statistics. Never mind that the majority of these studies were performed by individuals and entities directly associated with the insurance industry. The basic premise of using credit to predict future claims remains suspect - none of these studies even purport to show a cause nd effect relationship between credit and insurance claims. Never mind that the insurance scores are calculated on the data in credit reports. I don't have to explain to cN'ers how notorious credit reports are for errors and omissions of positive data. Most CN'ers would also agree that the information reported by the CRAs is negatively biased. Dispute a blalnce on a negative tradeline, it remains. Dispute a balance on a positive tradeline and it gets deleted. A recent post pointed out how the CRAs accept any negative information but will only accept positive information in batches of at least 500 updates. I haven't looked at the VIrginia study that you cited in quite a while, but it does not attempt to demonstate a link between credit and insurance claims. If I recall correctly, it is an attempt to look for racial bias in insurance scoring and does so at the zip code level. Zip codes don't buy insurance, individuals do. I suspect that an optimally designed study might find different results.
Re: Re: Re: Re: Re: Hung up on by insurance company!! Never mind that the insurance scores are calculated on the data in credit reports. I don't have to explain to cN'ers how notorious credit reports are for errors and omissions of positive data. cannoda ================= How can you analyze incorrect information and come up with any meaningful results? 1* FOR INSURANCE If everybodys scores remain the same for the next year willClaims? A* Increase B* Decrease C* Remain the same. FOR CREDIT If everybodys scores remain the same for the next year will Defaults? A* Increase B* Decrease C* Remain the same. I still haven't found anybody that could answer either one of these questions...... The END ************************* LB 59
Re: Re: Re: Re: Re: Re: Hung up on by insurance company!! Its the wrong question. Try this one: If the average insurance score decreases from one year to the next, will claims A* Increase? B* Decrease? C* Remain the same? When the economy goes south, delinquencies rise and the average insurance score falls. Claims, however, remain constant.
Re: Re: Re: Re: Re: Hung up on by insurance company!! That could be wajaba for Choicepoints product, but I can tell you each individual company decides what factors to take into account.
Re: Re: Re: Re: Re: Hung up on by insurance company!! Didn't answer because your questions have no relevant insurance basis since you're asking about FICO.
Re: Re: Re: Re: Re: Re: Re: Hung up on by insurance company!! I think all things being equal and the exact ratio of natural disasters and population levels were consant then the answer would be C if the insurance scores stayed the same.
