Xylem Employees: How Your Credit Score Influences Your Insurance Premiums

Healthcare Provider Update: Healthcare Provider for Xylem Xylem Inc. primarily relies on Accenture for its health and wellness programs, a strategic partnership aimed at enhancing employee benefits management. Healthcare Cost Increases in 2026 As 2026 approaches, Xylem employees may face significant increases in healthcare costs amid anticipated sharp hikes in ACA premiums. Reports indicate that some states could experience premium increases exceeding 60%, primarily driven by the expiration of enhanced federal subsidies and rising medical costs. Consequently, many employees could see their out-of-pocket expenses rise substantially, making it vital to evaluate health plans carefully and consider proactive financial strategies for managing these heightened costs. Adjustments in employer-sponsored plans may further shift more healthcare expenses onto employees, amplifying the need for strategic preparation. Click here to learn more

As an employee of Xylem 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 Xylem 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 Xylem 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.

Featured Video

Articles you may find interesting:

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