Suspended lisence?

[VifferFun]

There are all kinds of independent studies which have concluded similar findings. FSCO (Financial Services Commission of Ontario) used to commission such a study every year but stopped about 3 years ago. There are however similar surveys out there.

In answer to your question what constitutes a satisfied customer.

A positive response to a question like "Were you satisfied with your claims experience".

I have linked to a FSCO Claims Satisfaction survey in my other post, "I help set rates . . ." so you can have a look here:

http://www.gtamotorcycle.com/vbforum...ion#post661386

Just FYI, FSCO is the insurance regulator, and has nothing to gain by making things look pretty.

Cheers!

[VifferFun]

my source is Roger Oatley from Oatley Vigmond and Epic Rehabilitation. caps are per person i would believe, not divided between victims.
as for me, im very grateful for kingsway's coverage, but am not impressed with their claims dept. they have jerked me around at most turns, and they have spent retarded money dac'ing things that were clear cut. they may not go out of their way to deny legit claims, but they do go out to make sure its not easy. by the way, im talking kingsway here. ask just about any service provider as to how easy it is to deal with.
what is the satisfaction rate of diff. co's? i know for a fact that SF is excellent to deal with, where as some are hell.
also im for insurance, im against some of their claim policies.

Kingsway is a non-standard risk insurer, and not known for superior claims satisfaction. Can you guess which insurance company is at the bottom of the barrel with respect to claims satisfaction? State Farm is near the top . . .

[rukus]

Kingsway is a non-standard risk insurer, and not known for superior claims satisfaction. Can you guess which insurance company is at the bottom of the barrel with respect to claims satisfaction? State Farm is near the top . . .

no kidding

[eastcoast_gsx]

Yes, I believe we offer better-than-average rates to people with good credit, and poorer-than-average rates to people with poor credit, but ONLY for Home/Property insurance.

Viffer... here is your official warning.

http://www.thestar.com/wheels/article/585194

Take heed.

[eastcoast_gsx]

Yes, the insurance industry is currently not able to rate based on Credit Score, but if it has significant predictive power then we will certainly try. We will not use it as a rating variable until it has been approved by FSCO.

AS per my last post... lets hope the pressure stays applied so that you do not get your way.

[VifferFun]

Viffer... here is your official warning.

http://www.thestar.com/wheels/article/585194

Take heed.

I am COMPLETELY in support of this article! Credit Scoring for the purpose of AUTO rating is prohibited, so any insurance company that is using it to rate for Auto is breaking the rules and should be punished accordingly! I work for a company that, without a doubt, does NOT use Credit Scoring for your Auto premium calculation. If our competitors are using credit for Auto, then that would be an unfair competitive advantage and it must be stopped.

Thanks for the article.

[Platinum Cycle]

I'm in favour of credit scoring, it nabbed me a 45% premium rebate on my homeowner insurance

Awesome!!!!!

But, if you ask me if it's a good predictor of future claims experience, I'd say the jury is still out on that one.

For the time being though, if they want to give me a discount because I have good credit.....I'm all for it!!!!

[VifferFun]

I'm in favour of credit scoring, it nabbed me a 45% premium rebate on my homeowner insurance

Awesome!!!!!

But, if you ask me if it's a good predictor of future claims experience, I'd say the jury is still out on that one.

For the time being though, if they want to give me a discount because I have good credit.....I'm all for it!!!!

There have been many statistical studies done, and I think the results are pretty clear. A couple of actuaries in my department were assigned to an internal study using Generalized Linear Models and came to the same conclusion.

Glad to hear it worked in your favour

[eastcoast_gsx]

There have been many statistical studies done, and I think the results are pretty clear. A couple of actuaries in my department were assigned to an internal study using Generalized Linear Models and came to the same conclusion.

http://www.thestar.com/business/article/604033

Actuary analysis does NOT always = the real world.

[VifferFun]

http://www.thestar.com/business/article/604033

Actuary analysis does NOT always = the real world.

I was already sent that article by a friend . . . kind of makes me proud of my Waterloo degree and that I was taught by Panjer as well

When an actuary employs a mathematical model, they actually understand it, as well as the inherent limits. We account for deviation from our models. The same cannot be said of these STUPID financial analysts who blindly apply models without even understanding how they work. They are not educated mathematicians, so they should not use the tools of a mathematician. This would be like giving you a scalpel, and expecting you to perform surgery on someone . . . the result wouldn't be pretty!

[AdRath]

Ihis would be like giving you a scalpel, and expecting you to perform surgery on someone . . . the result wouldn't be pretty!

But I stayed at a holiday inn express....

[Avi Singh]

But I stayed at a holiday inn express....

and I've always wanted to live the life of a certain "Dr. Christian Troy!"