Interview
with: Craig E. Eisenacher, CFO - featuring: their liability and physical damage insurance
focusing exclusively on private passenger automobiles across the |
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| Bristol West Holdings, Inc. (BRW-NYSE) |
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This is a printer friendly page! Bristol West
Holdings’ ability to segment and assign the right prices to each class of risk is
near the top in the industry, which has much to do with their ability to garner market
share and to run the business profitably
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“The
Select 2.0 product is our latest iteration and our Select 1.0 product actually has been a
very successful product for us. The differentiation for the Select 2.0 product is that we
have our own proprietary credit model, which is imbedded in the rating structure for
Select 2.0. Historically, we have bought credit scores from other vendors. Now we are
obtaining directly the various components that the credit score vendors use to develop a
credit score and actually fitting that data to our own policyholder database. Secondly, we
are using our own proprietary symbol set, which is “insurance speak” for vehicle
factor; in other words, some vehicles are inherently more risky than others are. Thirdly
and perhaps the most important of the three, is that this product is based on multivariate
analysis. That allows us to assess or price the risk simultaneously for a multitude of
factors, which are things like years of driving experience, make and model of vehicle,
territory and some of the other items that you want to rate.” |
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