CARFAX mileage data helps insurers verify road exposure and self-reported mileage for 99% of policyholders. Additionally, CARFAX makes it easier to measure road exposure before, during and after events like COVID-19 or other calamities.
CARFAX studies show using registration type and length of ownership in rating can produce a 7-point lower loss ratio.
More than 1 in 5 vehicles have some damage that insurers should consider to help mitigate risk during underwriting and rating.