Millennium Information Services, Inc., a property inspection service provider, announced the availability of PrePredictR Score, a new product developed with Fair Isaac Corporation designed to help an insurer segment property risks at the point of application for underwriting and pricing decisions.
In conjunction with other available external information, PrePredictR Score helps insurers or their agents make underwriting decisions as well as offer their best pricing tiers at the point of sale. This new scoring solution leverages information gathered during the application process and Fair Isaac's advanced analytics to provide early insight into the risk of loss offered by a new applicant.
"The bottom line is an integrated view of risk management enables better management of specific risks," says Steve Pietrzak, CEO and president of Millennium. "We are equally confident PrePredictR Score will help speed this process along for underwriters today."
"While the physical property inspection remains a key source of risk management information gathered for P&C decision-makers, we are confident Millennium clients will want to incorporate some of Property PredictR's modeling technology at the beginning of the application/inspection process with PrePredictR Score," says Lamont Boyd, director, product management for Fair Isaac Corporation.
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