CRIF | Pet Score

Pricing sophistication for pet policy premium

Pet Score enables insurers to assess the risk associated with pet insurance policies more effectively, based on geographic location at a micro level.

By integrating this new additional data into the premium pricing process at point of quote, insurers can confidently price policies more competitively, assisting in growing market share, improving profitability and preserving loss ratios.

The CRIF algorithm incorporates a number of different variables, developed and optimised specifically for the pet insurance market. These include the housing and economic conditions of the area together with urban architecture, in order to predict the probability of a pet experiencing a negative event requiring treatment covered by the insurance policy.

Covered industries

Insurance

Micro-geographical pricing optimisation tool

Generally pet insurers’ rating engines analyse the breed, age and diseases of the pet. Thanks to Pet Score, now you can price pet policies more accurately incorporating granular and micro-location data.

Integrating CRIF Claims and Fraud Investigation Solutions

Pet Score complements CRIF’s existing suite of solutions for pet insurers which include the first centralised pet claims database and bespoke fraud detection tools for the pet insurance market.

CACHE Pet

Key benefits

Increasing market share and profitability

The score shows different degrees of risk within small geographic areas to price premiums accordingly, supporting strategies to grow market share.

Optimising pet policy quotation

Competitive advantage comes from the ability to simply integrate Pet Score with insurers' rating engine and flex their premium pricing based on this new intelligence.

Easy integration and update

Access to Pet Score is via simple file transfer and requires no up-front investment in technology integration. Regular data updates are provided by CRIF.