Driving record accuracy. Risky driving behavior is can be an indicator of a higher frequency of filing home insurance claims. (Photo: Shutterstock)

An individual's driving record is often one of the most important variables in insurers' rating and underwriting plans. Risky driving behavior is also correlated to a higher frequency of filing a home insurance claim and signals increased mortality rates in life insurance. State Motor Vehicle Reports (MVRs) have traditionally been viewed as the 'gold standard' by insurers to verify an individual's driving record; however, MVRs can be expensive. MVRs may also lack conviction activity, which could be "costly" to insurers in terms of missed premium and unidentified risk.

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