You should read the link there Mayur, Inc42 has explained it well.
Bounce and Nestaway can tell about the behavior of a customer. Is he negligent and pays the rent late? How does he drive the vehicle?
All these questions together and provide more information about the consumer and would be useful in predicting his behavior.
Home Credit does something similar. While banks use metrics like CIBIL score to rate a customer, Home credit uses metrics like the amount of time he talks on phone, when does he do the shopping etc. to judge whether the customer is free in the time when he should be working and hence judge his creditworthiness.
Interesting read. When you think of credit information derived decisions, my mind immediately jumps to CRED and the extremely rich depository of data it has. What ACKO is doing now, CRED might be able to do better in future and even more.
Can't agree more to this. However, CRED is not really for the masses, they are targeting only the affluent class. Acko and even Digit Insurance, are both targeting the masses
That was good quick revision from the basics of insurance to this day digital disruption in the industry!
The Ola example is fantastic!
What information acko could have acquired by partnering with Nestaway and Bounce?
You should read the link there Mayur, Inc42 has explained it well.
Bounce and Nestaway can tell about the behavior of a customer. Is he negligent and pays the rent late? How does he drive the vehicle?
All these questions together and provide more information about the consumer and would be useful in predicting his behavior.
Home Credit does something similar. While banks use metrics like CIBIL score to rate a customer, Home credit uses metrics like the amount of time he talks on phone, when does he do the shopping etc. to judge whether the customer is free in the time when he should be working and hence judge his creditworthiness.
Interesting read. When you think of credit information derived decisions, my mind immediately jumps to CRED and the extremely rich depository of data it has. What ACKO is doing now, CRED might be able to do better in future and even more.
Can't agree more to this. However, CRED is not really for the masses, they are targeting only the affluent class. Acko and even Digit Insurance, are both targeting the masses