Credit Based Insurance Score Tier Lookup
Audit actual caller insurance score through independently verified permitted score tiers and premium surcharge, not consumer credit score conversion, protected-class inference or lawful rating determination.
Description
Credit-based insurance rating uses its own supplied score tiers.
Credit-based insurance rating uses its own supplied score tiers. A consumer credit score conversion is not built into this calculation.1
The returned values include Caller applied credit score surcharge basis points, Caller rounded premium adjustment minor. The How section below explains the calculation, input rules and interpretation.
When to use Credit Based Insurance Score Tier Lookup
Use Credit Based Insurance Score Tier Lookup when you need to evaluate the supplied records under the calculation and evidence rules below. No score conversion, protected-class inference, current rate table or lawful rating determination is supplied.
Prepare the observed policy, claim or quote evidence and independently verified policy tables. Monetary fields use integer minor units in one currency: for a currency with 100 minor units per major unit, enter 12345 for 123.45. One basis point is 0.01 percentage points, so 10000 basis points represents 100%.
How to use Credit Based Insurance Score Tier Lookup and understand its results
- Prepare the observed policy, claim or quote evidence and independently verified policy tables. Monetary fields use integer minor units in one currency: for a currency with 100 minor units per major unit, enter 12345 for 123.45. One basis point is 0.01 percentage points, so 10000 basis points represents 100%.
- Enter observedCreditBasedInsuranceScore, callerCreditScoreLowerEdges, callerVerifiedScoreSurchargeBasisPoints, callerPreScoreAnnualPremiumMinor using the field table and calculation rules, then run the tool.
- Read callerAppliedCreditScoreSurchargeBasisPoints, callerRoundedPremiumAdjustmentMinor. The explanation below defines the units, signs, ordering and any flags or placeholder values.
- If the tool reports an input issue, correct the values and run it again. Apply the stated assumptions when interpreting a successfully returned result.
| Input field | Meaning | Value type; see rules below | Requirement |
|---|---|---|---|
| observedCreditBasedInsuranceScore | Observed credit based insurance score | number | Required |
| callerCreditScoreLowerEdges | Caller credit score lower edges | list of number | Required |
| callerVerifiedScoreSurchargeBasisPoints | Caller verified score surcharge basis points | list of number | Required |
| callerPreScoreAnnualPremiumMinor | Caller pre score annual premium minor | number | Required |
Enter nonnegative finite insurance score, aligned nonempty strictly increasing finite edges starting at zero, integer surcharge basis points 0–10000 and integer premium 0–10¹². Select the last reached tier and return its rate and rounded adjustment.
rate=last tier with lowerEdge≤insuranceScore; adjustment=roundMinor(premium×rate/10000) Units, indexing, boundary conditions and exceptional cases are defined in the calculation rules above.
| Output field | Meaning | Value type |
|---|---|---|
| callerAppliedCreditScoreSurchargeBasisPoints | Caller applied credit score surcharge basis points | number |
| callerRoundedPremiumAdjustmentMinor | Caller rounded premium adjustment minor | number |
{
"input": {
"observedCreditBasedInsuranceScore": 15,
"callerCreditScoreLowerEdges": [
0,
10,
20
],
"callerVerifiedScoreSurchargeBasisPoints": [
0,
1000,
2000
],
"callerPreScoreAnnualPremiumMinor": 10000
},
"output": {
"callerAppliedCreditScoreSurchargeBasisPoints": 1000,
"callerRoundedPremiumAdjustmentMinor": 1000
}
}Limitations and assumptions
No score conversion, protected-class inference, current rate table or lawful rating determination is supplied.
Numeric inputs, where present, must be finite. Follow the calculation-specific rules for overflow, underflow and exceptional cases. Numeric lists are limited to 10,000 entries; string lists to 128 strings of at most 128 characters each. The rules above may impose smaller limits. Missing required fields, extra fields, wrong value types and violations of the calculation rules are input errors.
Alternative or Complementary methods
Use Driver Age Surcharge Tier Lookup: Driver-age surcharges require explicit rating tiers. The tool uses a supplied numeric age without assigning its own age-risk model. For a complementary task, use Auto Premium Base Class Lookup: An auto base-class quote audit compares observed money with a verified class rate. Premium modifications belong to separate scenarios.
References
-
Credit Based Insurance Score Tier Lookup — tool.io
Similar or alternative tools
- Driver Age Surcharge Tier Lookup
Driver-age surcharges require explicit rating tiers. The tool uses a supplied numeric age without assigning its own age-risk model.
- Auto Premium Base Class Lookup
An auto base-class quote audit compares observed money with a verified class rate. Premium modifications belong to separate scenarios.