National Credit File
National Credit File provides consumer reporting information to insurance companies to help set insurance rates and other variables in regards to coverage that is offered to new customers.
An insurance company needs consumer information in order to underwrite and provide products and services to new customers. This is how they assess their risk in providing coverage, and National Credit File is a leader in offering this information to insurance businesses large and small.
Insurance rates ebb and flow with the economy, customer experiences, and the information that they can accumulate on their potential customers. Everyone should expect that a carrier they wish to buy from will order a report.
National Credit File offers a system of reporting and assessment features that allow insurance carriers to make much quicker judgments regarding coverage for their clients.
NCF's service can provide insurance scores in multiple formats. The Attract score model, and other insurance scores can be seen easily. There are customizable models for insurance scores that can be easily put together with NCF's system.
New customers easily be placed into different tiers right there on the system. It can help interpret scoring as it offers the information.
Also, the system allows any underwriter to see credit bureau reports. Anyone working on the file can switch between credit bureaus easily, read through the duplicate check database, and see the common inquiry and result pages.
An underwriter can view previous scores that have been saved in the database, and they can use that as a comparison tool when making a decision. The process can begin and end with National Credit File because they offer all the information in one place.
There are also offline reports inside a user's account for easy access when someone is working "on the fly". The assessor should have no trouble making a decision given that NCF offers all the information right up front.
As a service of LexisNexis, National Credit File's search functions can provide any insurance carrier or seller with the tools necessary to make informed and appropriate decisions about their customers. Credit bureau files, insurance scores, and even file interpretation make the job that much easier.
Making the tier placements does not have to seem fully arbitrary because the NCF system also allows a messaging system for use by insurance carriers. It tells agents what it believes the score reflects so that there is always another eye on the file while it is being reviewed.
National Credit File does more than offer the insurance and credit scores of customers. It helps determine the right pricing for customers, helps multiple agents view someone's reports, and it makes the underwriting process much more smooth.