Oracle Employees: How Your Credit Score Influences Your Insurance Premiums

Healthcare Provider Update: Healthcare Provider for Oracle: Oracle collaborates with various healthcare providers to implement value-based care models and enhance health outcomes. Notably, Oracle Health emphasizes the importance of data and technology integration to support healthcare entities in managing patient care and costs effectively. Potential Healthcare Cost Increases in 2026: As we approach 2026, significant increases in healthcare costs are anticipated, particularly for those enrolled in Affordable Care Act (ACA) marketplace plans. Reports indicate that states may experience premium hikes exceeding 60%. These increases stem from multiple factors, including the potential loss of federal subsidies and rising medical costs driven by inflation and administrative pressures. The Kaiser Family Foundation warns that without congressional intervention, many policyholders could see their premiums rise by over 75%, further straining budgets and access to care for millions of Americans. Click here to learn more

As an employee of Oracle you may find it interesting to know, one landmark study found that credit-based insurance scores are used by about 95 percent of all auto and home insurers in calculating the cost of insurance to individuals.

While the vast majority of insurance companies use credit-based insurance scores to help determine the price of insurance, it is banned in the states of Massachusetts, Hawaii, and California. Some states only allow it as a factor for property insurance like auto and homeowners insurance. Other states allow it to be used with any type of insurance.

Several Factors

Generally, an insurance company will use a credit-based insurance score as just one factor in its underwriting process. We'd also like to remind our Oracle clients that other factors may be considered, depending on the type of insurance. For example, with auto insurance, other factors could include your zip code, the age of the drivers, the make, model and age of the car, and the number of miles you drive annually.

The use of credit scores to determine insurance rates is rooted in research that has shown individuals with lower credit scores had higher car insurance losses and higher claims payouts.

You can ask your insurance company if a credit-based insurance score was used to underwrite and rate your policy, and in which risk category you were placed.

For Oracle employees who want to improve their credit-based insurance score, you should consider taking the same steps you would to improve your credit rating: make timely debt payments, clear up past disputes and keep credit card balances low.

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1. Predictive Analytics: Achieving Greater Decision Accuracy, Better Risk Segmentation, and Greater Profitability, Fair Isaac Corporation, 2012 (most recent statistics available).