ISO credit scoring setup

Through strategic alliances with leading credit information services, ISO Passport provides easy access to critical consumer-credit information by generating credit reports containing addresses, collections, employers, inquiries, public records, and trade accounts.

BriteCore setup

Get started

ISO partners with TransUnion, so contracts must be signed with both companies:

1. Contact ISO and TransUnion.
2. IIX, a subsidiary of ISO, is the connection point to BriteCore. IIX will provide:
   1. Account
   2. Sub-account number
   3. Username
   4. Password
3. Once you receive IIX credentials, register your account with IIX:
   1. Create a user for yourself.
   2. Create a user for BriteCore with the username WEB to indicate the web service’s connection method.
      

      Note: The password must be exactly 10 characters.

4. Determine your credit tiers.
5. Determine if and how credit tiers will affect your rating. Work with your BriteCore Content Analyst to build the credit tiers into your rating.
6. Determine a default credit tier and what to do if multiple scores are used: use the highest, lowest, or average.

ISO vendor

1. In BriteCore, navigate to Settings > Vendors > ISO Credit Scoring.
2. Select the box.
3. Select the pencil.
4. Type your Account Number, Sub-Account Number (the Credit Bill code), Username (e.g., WEB), and Password.
   

   Note: Your password is only editable the first time, after which you’ll need to notify BriteCore for assistance.

5. Make a selection from the Multiple Credit Scores dropdown list.
6. Set a Default Credit Score, which is used when no credit score is available for the insured.
7. For Credit Score Permission Prompt type a question that agents must answer before pulling an individual’s credit.
   

   Note: This is optional and may be left blank. A recommended question is “Did you receive permission from the insured to pull their credit score?”

8. For the Build Tier Label section:
   1. Add tiers to the table for defining how credit scores in specific ranges should be reported.
      
      Example: Credit scores between 601 and 700 could fall under the tier of Average. In order to accommodate all possible responses from ISO, the Low and High columns accept keywords in addition to numeric values. The keywords are case-sensitive and must be entered exactly as stated below in the Low and High columns.
      
      
      1. No Hit Indicates the applicant has no credit history; no records found.
      2. Insufficient credit Indicates the applicant has too little recent credit history to calculate a credit score.
      3. None Indicates missing information or misinformation for the requested applicant.
      4. D11 indicates Bankruptcy; Quotes are restricted to Submit Unbound.
   2. Add Labels to each tier that will appear in place of the score.
   3. Add Restrictions to each credit score tier.
9. Select Don’t require SSN to make the SSN optional or leave the box unselected to make the SSN required.
   

   Note: By default, SSNs are required to run a credit check.

Social security numbers required or optional for Credit Scores

By default, SSNs are required to run a credit check.

To make the SSN optional:

1. Log in as Admin.
2. Navigate to Settings > Vendors > ISO Credit Scoring.
3. Select the Edit Select box next to Don’t require SSN.

Adverse action letter (Insurance scoring notification)

The Fair Credit Reporting Act requires an Adverse Action Letter be sent to insureds whose insurance coverage is adversely affected as a result of the information in their credit report:

1. Navigate to Settings > Deliverables > Insurance Scoring Notification.
2. Select the pencil.
3. Change the name of this deliverable (not required).
4. Update the following lines of the document:
   1. Line 12: Add an abbreviation for your company.
   2. Line 15: Add an appropriate signature.
   3. Line 17: Add an appropriate footer.
   4. Lines 19 – 20: Add an appropriate default description for Credit Reason Codes that are not defined.
   5. Line 24: Add all appropriate Credit Reason Codes and descriptions. These reason codes are defined by TransUnion and are specific to individual contracts. Contact your TransUnion representative for a comprehensive list of codes to use.

BriteCore processing

Agents

While quoting, select Get Credit Score and a score will be returned, but the agent will not have access to the report.

Staff

1. Access the credit score history and report from the insured’s contact in the Contacts module.
2. Select the magnifying glass to review the report.
3. For renewals, select Get Credit Score to retrieve a new score.
4. To generate the Adverse Action Letter (Insurance Scoring Notification):
   1. Navigate to the policy.
   2. Select Custom Deliverable.
   3. Select the deliverable.
   4. Select Done.
   5. Select the insured.
   6. Select OK, and the deliverable will print automatically the next day.
5. You can build a credit score report in BriteData (optional):
   1. Access and download the sample report to your computer.
   2. Upload the sample report to BriteData.
   3. Amend the report as desired.

FAQs

Does the Adverse Action Letter (Insurance Scoring Notification) generate automatically?

No, you must select Custom Deliverable on the policy.