the use of credit information as an underwriting tool in personal lines insurance analysis evidence and benefits new york state assembly standing committee on puerto rican hispanic task force ny october 22 2003 robert p hartwig ph d cpcu senior vice president & chief economist institute 110 william street 10038 tel 212 346 5520 fax 732 1916 bobh iii org www 2 presentation outline scoring what is why do insurers info used by science behind actual example consumer savings review relationship between income search for adverse impact 3 scores are highly accurate predictors future loss auto homeowners provide objective consistent that with other applicant to better anticipate claims a way determining individual s responsibility performance under terms contract allowing insurer offer price more fair equitable 5
