Milliman Appleseed to file CARFAX Vehicle Risk Scores with state insurance regulators

Barchart · 10/17 08:54

Milliman, Inc., the premier global consulting and actuarial firm, is providing auto insurers with access to CARFAX Vehicle Risk Scores as part of its Appleseed product. Milliman Appleseed® will pre-file these risk scores with state insurance regulators thereby reducing regulatory risk and enabling insurers to adopt them more easily.

“We are leveraging Appleseed’s state approval and distribution networks to get CARFAX Vehicle Risk Scores to market more quickly,” said Dan Hill, National Insurance Director for CARFAX. “For example, the CARFAX ADAS Scores are now available via Appleseed.”

Milliman Appleseed is an advisory organization licensed to submit loss costs, rating factors, and risk scores with insurance regulators across the United States. Insurtechs with new and innovative risk scoring approaches can meet regulatory requirements faster, more easily, and at lower costs by filing through Milliman Appleseed.

“The state regulatory system is very complex, and insurers cannot be certain how long it will take for new models to be reviewed,” said Peggy Brinkmann, principal and consulting actuary with Milliman. “Using a score filed through Appleseed is a more efficient process for everyone involved – insurtechs, insurers, and state regulators – and we’re thrilled to include CARFAX Vehicle Risk Scores among our offerings.”

To learn more about Milliman Appleseed, go to https://us.milliman.com/en/products/milliman-appleseed.

To learn more about CARFAX For Insurers, go to https://www.CarfaxForInsurers.com.

About Milliman

Milliman leverages deep expertise, actuarial rigor, and advanced technology to develop solutions for a world at risk. We help clients in the public and private sectors navigate urgent, complex challenges—from extreme weather and market volatility to financial insecurity and rising health costs—so they can meet their business, financial, and social objectives. Our solutions encompass insurance, financial services, healthcare, life sciences, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe. Visit us at milliman.com.