Predicting Defaults using Financial Statements

While insurers are increasingly using data to gain competitive advantage, the potential of credit data remains largely untapped within Australia’s commercial insurance sector. To explore its possible value across the policy lifecycle, Equifax partnered with a leading commercial insurer to augment their internal customer data with Equifax credit data. 

Exploratory sandbox experiments unearthed compelling evidence showcasing the substantial gains of leveraging credit data, specifically across areas such as: Validation, Risk modelling and Marketing strategy.

In a tale of two markets, Australia finds itself contending with starkly opposing realities in its real estate landscape. While the residential sector grapples with a severe shortage, commercial properties, particularly office spaces, are experiencing very high vacancies.