Pinnacle joined CARFAX in May for a webinar introducing the Vehicle Build Score (VBS) titled, “Evolve Past Symbols.”

Pinnacle Senior Consulting Actuary joined Don Hendriks from CARFAX to highlight this exciting new CARFAX product. The VBS uses an automobile’s full 17-digit VIN to help insurers refine their rating by better understanding a vehicle's value and specific attributes with a score.

According to CARFAX, “The CARFAX Vehicle Build Score incorporates a proprietary vehicle valuation model that prevents both over and underpricing by providing precise current market values. CARFAX uses advanced modeling techniques to analyze a vehicle's loss experience at the component level, eliminating the need for yearly updates and adjustments to existing symbols.”

You can view the recording here and learn more about the VBS on the CARFAX website.