Loans and insurances for clients with risk professions: Scoring as a protection factor


We are moved by the idea to make the world of work more human - without constant pressure for efficiency, stress and fear. As Publisher Best of HR - Berufebilder.de® with podcast, eLearning-on-demand offers and news service we share 15 years of experience with our customers (Samsung, Otto, state institutions). By the Top20 female blogger and consultant Simone Janson, referenced in ARD, ZEIT, Wikipedia .
Disclosure & Image Rights: Current construction interest has supported us financially. onlinekreditvergleiche.com has supported us financially. Artwork created as part of a free collaboration with Shutterstock.Artwork created as part of a free collaboration with Shutterstock. ,

People who are active in risk management, such as different tradesmen, teachers or musicians, often find it harder to take out insurance or get a loan. If they succeed, they often have to deal with poorer conditions. Loans and insurances for clients with risk professions: Scoring as a protection factor Loans and insurance for customers with risk professions: Scoring as a protection factor

Tip: Text as PDF or podcast (please read the instructions!) or to this text complete eCourse Download. Regular promotions or news per Newsletter!


More knowledge - Podcast, PDF download, eCourse or personal advice

Here writes for you: Susanne Kleimst is an analyst and specialist journalist for German-speaking countries. Profile

What does scoring mean?

Overview

In the classification of creditworthiness, different criteria are taken into account, which relate to the circumstances of life. The scoring thus serves as information for credit and insurance brokers, in order to be able to submit a individually suitable offer.

Tip: Text as PDF or podcast (please read the instructions!) or to this text complete eCourse Download. Regular promotions or news per Newsletter!

The scoring serves primarily as a protective measure for the consumer. For him, the protection of creditworthiness is at the forefront. Especially in the case of risk levels, the customer should be given comprehensive advice on the possibilities of credit protection and thus be protected against excessive financial burdens.

Scoring as the basis for decisions

Overview

Since 2010 customers have the right to obtain information about the data collected at SCHUFA. Various information is collected there to assess the creditworthiness and evaluated by mathematical-statistical methods:

  • Information about bank accounts and credit cards
  • Completed leases, loans and guarantees
  • Mobile phone and mail order accounts
  • Installment transactions
  • Possible payment defaults

What information is important for scoring?

Overview

The risk classification by SCHUFA scoring is only a very basic, if very basic, basis for the evaluation of the creditworthiness of a customer. However, a lot of other information plays an important role. These must be ascertained by the credit or insurance adviser:

  • Economic conditions
  • Employer and profession
  • marital status

It is advisable to take this comprehensive information into account in order to optimally exploit the financial possibilities of the customers and make a meaningful offer. The score as the only basis is usually not strong enough to make an objective decision.

Tip: Text as PDF or podcast (please read the instructions!) or to this text complete eCourse Download. Regular promotions or news per Newsletter!

Dilemma of risk management

Overview

In addition to the risk professions, the self-employed are also affected when it comes to finding a loan. The score should not be the only criterion for rejection here. This is specified in the Federal Data Protection Act (§ 6a BDSG). Accordingly, the score serves only as a decision-making aid, but not as a basis.

Nevertheless, the individual classification directly affects the terms of the loans. Different monetary institutions, for example, are staggering their credit rates according to the amount of their income. A similar procedure is also used for credit cards. Above all, self-employed and self-employed persons are at a disadvantage, whose income is irregular and subject to certain fluctuations.

Loans and insurances for clients with risk professions: Scoring as a protection factor Loans and insurance for customers with risk professions: Scoring as a protection factor

Disability insurance is often difficult

Overview

The dilemma of the risk groups is twofold: On the one hand, loans for example for a real estate have to accept worse conditions. In addition, the risk of credit default must be considered.

Tip: Text as PDF or podcast (please read the instructions!) or to this text complete eCourse Download. Regular promotions or news per Newsletter!

Disability insurance is often priceless here or are rejected directly due to the health check. Only slightly more than half of German households therefore have occupational disability insurance.

For high school graduates, this is often associated with extremely high contributions. Here it is up to the broker to inform the customer comprehensively about the risks involved in the conclusion of a loan - which, unfortunately, often happens inadequately. Above all, the loss of earnings is often treated only insufficiently.

Opportunities for credit protection

Overview

The safeguarding of a loan against payment default is an important issue, especially for risk groups, if no occupational disability insurance can be concluded at the same time. There are other possibilities:

  1. Alternatives to the classic BU: If disability insurance is out of the question, disability insurance is a possible alternative. However, the protection only comes into force when in fact no more work can be done. Dread disease insurance also does not offer comparable coverage, but may be able to absorb some of the loss of earnings.
  2. Credit protection at high values: The hedge is already included in most loans. Again, the financial service providers are based on the scores in the design of individual conditions. For long-term loans, eligible assets are often used to secure credit. As a mortgage, register deposit or collateral transfer, the values ​​are then used as legal protection until final repayment.
  3. Guarantee by other persons: This option uses the good credit ratings of third parties to secure a loan. Family members or other relatives can be employed.

In addition, risk-takers in risk groups should make full use of the possibilities of the special repayment in order to be able to repay a credit agreement promptly. Above all, self-employed with fluctuating income can be at a good personal business achieve good effects with the unscheduled payments, For instance, this option should always be granted, especially for high-level loans such as real estate. Before the loan contract is concluded, the customer can discuss various cases and discuss the impact on the credit history.

Tip: Text as PDF or podcast (please read the instructions!) or to this text complete eCourse Download. Regular promotions or news per Newsletter!

High standards of data protection

Overview

The new Basic Data Protection Act provides binding rules for all EU Member States, including scoring. On the other hand, the Consumer Center urges us to obtain higher standards of laws.

In April 2016, the long-overdue European General Data Protection Regulation (DSGVO) was adopted. The growing cross-border credit and insurance market has made common rules for the individual member states urgently necessary. In May 2018 the DSGVO becomes binding for the individual countries. Up to this point in time, valid, individual data protection regulations must be adapted by the states accordingly.

In order to protect the consumers from the negative effects of scoring, the Confederation of the Consumer Center (vzbv) urges that certain stricter regulations of the German legislation be maintained. Around the current level of data protection, it makes sense to transfer certain clauses into other laws.

In addition to data protection, discrimination is to be kept as low as possible. Due to the regulations of the DSGVO in the future, classifications will only be possible on the basis of address data. The neglect of other important influencing factors can have a negative impact on certain groups of people. Again, the vzbv advises to keep the current paragraph (§ 28b BDSG), which presupposes higher protection standards for consumers.

Tip: Text as PDF or podcast (please read the instructions!) or to this text complete eCourse Download. Regular promotions or news per Newsletter!

Individual scoring of banks and insurers

Overview

In addition to SCHUFA, many credit institutions and insurance companies have their own procedures or automated calculation procedures to classify the creditworthiness of their customers. Especially at Online credit providers, where no direct customer contact occurs anymore, these individual assessment systems are of great importance.

In order to create trust, it is important that financial services providers also work transparently in the area of ​​scoring. The information of the customers about the composition, handling and processing of the data is important here. In the customer conversation, the usefulness and importance of the scoring can be explained in more detail. Compliance with the relevant data protection regulations is also obligatory for the credit institutions.


More knowledge - Podcast, PDF download, eCourse or personal advice

Overview


Offline download: Download this text as PDF - Read usage rights, Because we do not automatically submit the title of this text for privacy reasons: When buying in "interests" the title register if support is needed. After buying text exclusively Download at this URL (please save).

3,35 Book now


Listen to Podcast & Download MP3: You can listen to this text for free, as member even without annoying popup, or download the MP3 for a fee - Read usage rights, After the purchase page refresh, then you will find the download link here. Because we do not automatically submit the title of this podcast for privacy reasons: When buying in "interests" the title register if support is needed.

3,35 Book now


Your eCourse on Demand: Choose your personal eCourse on this or another desired topic, As a PDF download. Up to 30 lessons with each 4 learning task + final lesson. Please enter the title under "interests". Alternatively, we are happy to put together your course for you or offer you a personal regular eMailCourse including supervision and certificate - all further information!

16,20 Book now


Consultant packages: You want to increase your reach or address applicants as an employer? For these and other topics we offer special Consultant packages (overview) - For example, a personal phone call (price is per hour).

149,99 Book now


occupations pictures

You want to comment here? Please the Debate Rules comply, contributions must be unlocked. Your eMailAddress remains secret. More information on the use of your data and how you can counter this can be found in our Privacy Policy.

  1. To follow debate on this post
  2. All debates follow
  3. Debates per eMail subscribe (add link here!)
  1. Job college

    Loans & Insurances for Customers with Risk Consequences: Scoring as a Protective Factor by Susanne Kleimst ... - Highly recommended A0L6TlsyES

  2. REGIS GMBH

    Loans & Insurances for Customers with Risk Consequences: Scoring as a Protection Factor by
    Susanne ... via @ berufebilder
    - Highly recommended OUeiiB2A9u

  3. Thomas Eggert

    Loans & Insurances for Customers with Risk Consequences: Scoring as a Protection Factor by
    Susanne ... via @ berufebilder
    - Highly recommended irtlXq3Cw4

Post a Comment

Your email address will not be published. Required fields are marked with * .

JaI would like to be regularly informed about the latest promotions & offers Newsletter be informed.

I hereby accept the Debate Rules and the Privacy policy with the possibility to contradict the use of my data at any time.