The more you drive on riskier roads, the higher the chance of getting into an accident which leads to insurance claims, said Yiem Sunbhanich, co-founder and CEO of TNEDICCA. Guided by our research on crashes and customer feedback, we transformed this fundamental insight into algorithms that enable auto insurance companies to further refine risk segmentation and gain a pricing advantage.
The Enhanced Location Score is available for both commercial and personal insurance. The score is available through Application Programming Interface (API) at the time of quote and is filed with state regulators across the U.S.
We are delighted to partner with TNEDICCA on this solution, which will provide a powerful dynamic data input that strengthens current methodology for risk location assessment, said Dan Hill, National Sales Director at CARFAX. Our collaboration with TNEDICCA will lead to innovations enabling more accurate and fair scoring in the future.
CARFAX, part of S&P Global Mobility, helps millions of people every day confidently shop, buy, service and sell used cars with innovative solutions powered by CARFAX vehicle history information. The expert in vehicle history since 1984, CARFAX provides exclusive services like CARFAX Used Car Listings, CARFAX Car Care, CARFAX History-Based Value and the flagship CARFAX® Vehicle History Report to consumers and the automotive industry. CARFAX owns the worlds largest vehicle history database and is nationally recognized as a top workplace by The Washington Post and Glassdoor.com. Shop, Buy, Service, Sell Show me the CARFAX.
Founded in 2015 and headquartered in Columbus, Ohio, TNEDICCAs mission is to reduce future traffic accidents through the better use of data and analytics. TNEDICCA has built the most comprehensive accident location database of more than 30 million crashes covering 94% of the U.S. auto insurance market. The company provides solutions to auto insurance, navigation service, automotive manufacturing, and transportation planning industries. The company provides telematics and non-telematics risk scores that are empirically proven to enhance pricing precision and better risk selection. Connect with TNEDICCA on LinkedIn and Facebook. Visit www.tnedicca.com.
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Tracy Wemett – BroadPR, Inc.
tracy ( @ ) broadpr dot com