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"Credit based insurance score"

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Senior Contributor

Re: "Credit based insurance score"


@CreditGuyInDixie wrote:

I have not pulled mine.  I should.  Do they supply you with 3-4 reason codes, ranked in order of impact, that explain why your score is not as high as it could be?

 

I'll work with you on this via private messaging and we'll see what we can come up with   You and I are in complete agreement about what the obstacle is to being able to say anything definitive about LN-Auto, which is the lack of a platform to test and restest and retest changes using a variety of people and profiles.  (The cost is prohibitive.)

 

The TU model, by way of contrast, is free via Credit Karma -- isn't it?  At least it used to be, back in the day.

 

Still, coming up with some advice purely on reason codes could be really helpful to folks.  I'll stay in touch.


They supply 2 reason codes with the report/score. The codes have are hot linked to direct you to additional info. As mentioned they provide CBIS for Auto and Property - which are different. The TU Auto CBIS is free and can be accessed once you log on by clicking on the insurance button. Pasted below is are the primary summary pages for LN CBIS. The C.L.U.E report listing account details is on subsequent pages.

 

LN Auto image.jpg

 

LN Property image.jpg

Fico 9: .......EQ 850 TU 850 EX 850
Fico 8: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
Fico 8 BC:. EQ 892 TU 900 EX 900
Fico 8 AU:. EQ 887 TU 897 EX 899
Fico 4 BC:. EQ 826 TU 858, EX Fico 98 BC: 870
Fico 4 AU:. EQ 831 TU 872, EX Fico 98 AU: 861
VS 3.0:...... EQ 835 TU 835 EX 835
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
Message 11 of 29
Highlighted
Senior Contributor

Re: "Credit based insurance score"

Shown below is how to get to the free TU Auto CBIS offered on CK.

 

First, go to the CK website and log in to your account per this link: https://www.creditkarma.com/

 

1) On initial screen click on "log in". The below shown "Log In to Your Account" pop up screen will then appear.

2) Enter your log in information. Then click on the log in button.

 

If, you don't have an account, you will need to create one as data from the TransUnion CRA is used to generate a credit based insurance score.

 

TU CBIS part 1.jpg

 

Now:

1) click on loans on main screen => new screen comes up.

2) Click on Auto loans => new screen comes up.

3) Click on insurance => new screen comes up and displays INS score in lower left area of the screen.

 

TU CBIS from CK.jpg

 

BTW - My TU CBIS score has been stuck at 902 the 12 or so times I have checked it since 10/2015. It appears to lack sensitivity to changes in profile data relative to LN - or I have hit a ceiling associated with some TBD deficiency.

Fico 9: .......EQ 850 TU 850 EX 850
Fico 8: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
Fico 8 BC:. EQ 892 TU 900 EX 900
Fico 8 AU:. EQ 887 TU 897 EX 899
Fico 4 BC:. EQ 826 TU 858, EX Fico 98 BC: 870
Fico 4 AU:. EQ 831 TU 872, EX Fico 98 AU: 861
VS 3.0:...... EQ 835 TU 835 EX 835
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
Message 12 of 29
Highlighted
Senior Contributor

Re: "Credit based insurance score"


@Thomas_Thumb wrote:

Shown below is how to get to the free TU Auto CBIS offered on CK.

 

Click on loans on main screen => new screen comes up. Click on Auto loans => new screen comes up. Click on insurance => new screen comes up and displays INS score in lower left area.

 

TU CBIS from CK.jpg

 

BTW - My TU CBis score has been stuck at 902 the 12 or so times I have checked it since 10/2015. It appears to lack sensitivity to changes in profile data relative to LN - or I have hit a ceiling associated with some TBD deficiency.


  I get a completely diferent screen only letting me apply for quotes. can you paste a direct link?

Message 13 of 29
Highlighted
Senior Contributor

Re: "Credit based insurance score"

Elim,

 

I should have started from the beginning as many screens look the same.

 

You will not be able to get this score until after you have logged in as a member. Added log in steps to the above post. Hope this covers the missing steps.

 

P.S. Your Transunion CRA data is the only data needed to generate the TU credit based insurance score. The fill in the blank information above the score is only used for insurance rate estimates. You can look at how changes in that information affect rates but, it won't change your score - because score is based on CRA data at TransUnion.

Fico 9: .......EQ 850 TU 850 EX 850
Fico 8: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
Fico 8 BC:. EQ 892 TU 900 EX 900
Fico 8 AU:. EQ 887 TU 897 EX 899
Fico 4 BC:. EQ 826 TU 858, EX Fico 98 BC: 870
Fico 4 AU:. EQ 831 TU 872, EX Fico 98 AU: 861
VS 3.0:...... EQ 835 TU 835 EX 835
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
Message 14 of 29
Highlighted
Super Contributor

Re: "Credit based insurance score"

Hi TT.  Both the LN and the TU Auto scores rely on the data from a credit bureau.  The TU Auto Score is of course generated purely off of TU data -- no data from EQ or EX has any effect on your TU Auto Score.

 

But as far as the LN score goes, where do they get their CRA data?  Is it based on exactly one bureau?  (If so, which one?)  Or is it based on a merger of data from all three CRAs?

Message 15 of 29
Highlighted
Senior Contributor

Re: "Credit based insurance score"

CGID,

 

LN uses data from Equifax but, they suppliment it with information they gather from other sources.

 

After all, LN is like a credit Bureau itself and must provide you with a free copy of their own credit report upon request yearly (subject to the same federal reg. as the "big 3").

 

As mentioned in the LN report shown above:

  • Your score of 900 is based upon your Equifax Credit Report as of 12 / 03 / 2015
  • Scores range between under 500 and 997.
  • Higher scores are considered better scores. If an insurance company evaluated you solely on your insurance score, you would be considered a GOOD risk.
Fico 9: .......EQ 850 TU 850 EX 850
Fico 8: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
Fico 8 BC:. EQ 892 TU 900 EX 900
Fico 8 AU:. EQ 887 TU 897 EX 899
Fico 4 BC:. EQ 826 TU 858, EX Fico 98 BC: 870
Fico 4 AU:. EQ 831 TU 872, EX Fico 98 AU: 861
VS 3.0:...... EQ 835 TU 835 EX 835
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
Message 16 of 29
Highlighted
Senior Contributor

Re: "Credit based insurance score"


@Thomas_Thumb wrote:

Elim,

 

I should have started from the beginning as many screens look the same.

 

You will not be able to get this score until after you have logged in as a member. Added log in steps to the above post. Hope this covers the missing steps.

 

P.S. Your Transunion CRA data is the only data needed to generate the TU credit based insurance score. The fill in the blank information above the score is only used for insurance rate estimates. You can look at how changes in that information affect rates but, it won't change your score - because score is based on CRA data at TransUnion.


   Yes I'm logged in but this is my insurance tab on CK (after following your steps)... link here

 

   ETA: thanks thomas, looks like I have some Beta version.  I have logged in to CK every week for 3 years and have never seen my ins score there. bummer.  thanks again  :]

   

fghgfdfghf.jpg

 

Message 17 of 29
Highlighted
Valued Contributor

Re: "Credit based insurance score"


@CreditGuyInDixie wrote:

 

But as far as the LN score goes, where do they get their CRA data?  Is it based on exactly one bureau?  (If so, which one?)  Or is it based on a merger of data from all three CRAs?


It's Equifax data.

 

I don't have the reason codes handy at the moment, but the last time I pulled LN Attract scores mine were 854 Home and 913 Auto.

 

For comparison, my EQ FICO 8 was "down" to 816 that week (>20% utilization at the time).

 

The biggest issue with Attract score optimization advice is that many of the factors are inter-related and quite a few factors move at cross-purposes.  Try to optimize for one set of reason codes, and it hurts you on others...

EQ8:850 TU8:850 EX8:850
EQ9:850 TU9:850 EX9:850
EQ5:809 TU4:789 EX2:819 - 2019-09-06
Message 18 of 29
Highlighted
Senior Contributor

Re: "Credit based insurance score"


@iv wrote:

@CreditGuyInDixie wrote:

 

But as far as the LN score goes, where do they get their CRA data?  Is it based on exactly one bureau?  (If so, which one?)  Or is it based on a merger of data from all three CRAs?


It's Equifax data.

 

I don't have the reason codes handy at the moment, but the last time I pulled LN Attract scores mine were 854 Home and 913 Auto.

 

For comparison, my EQ FICO 8 was "down" to 816 that week (>20% utilization at the time).

 

The biggest issue with Attract score optimization advice is that many of the factors are inter-related and quite a few factors move at cross-purposes.  Try to optimize for one set of reason codes, and it hurts you on others...


FYI - LN CBIS uses "Property" and "Auto". TU CBIS uses "Home" and "Auto".

Fico 9: .......EQ 850 TU 850 EX 850
Fico 8: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
Fico 8 BC:. EQ 892 TU 900 EX 900
Fico 8 AU:. EQ 887 TU 897 EX 899
Fico 4 BC:. EQ 826 TU 858, EX Fico 98 BC: 870
Fico 4 AU:. EQ 831 TU 872, EX Fico 98 AU: 861
VS 3.0:...... EQ 835 TU 835 EX 835
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
Message 19 of 29
Highlighted
Senior Contributor

Re: "Credit based insurance score"


@elim wrote:

 


   Yes I'm logged in but this is my insurance tab on CK (after following your steps)... link here

 

   ETA: thanks thomas, looks like I have some Beta version.  I have logged in to CK every week for 3 years and have never seen my ins score there. bummer.  thanks again  :]

 


Pasted below is the screen sequence that should get you there. The Insurance score is NOT available upfront and therefore most people are unaware of it. However, it does exist as a standard feature and should be available for all members that have VantageScores. Unfortunately, one must navigate through multiple screens to find it.

 

CK CBIS screens 1 & 2.jpg

CK CBIS screens 3 & 4.jpg

Fico 9: .......EQ 850 TU 850 EX 850
Fico 8: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
Fico 8 BC:. EQ 892 TU 900 EX 900
Fico 8 AU:. EQ 887 TU 897 EX 899
Fico 4 BC:. EQ 826 TU 858, EX Fico 98 BC: 870
Fico 4 AU:. EQ 831 TU 872, EX Fico 98 AU: 861
VS 3.0:...... EQ 835 TU 835 EX 835
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
Message 20 of 29
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