The controversial practice of using credit scoring to determine pricing of insurance actually saves insurers money, thus lowering the cost of premiums for the consumer, a professor of insurance suggests.
As a direct result of the Patient Protection and Affordable Care Act (PPACA) – also known as ObamaCare – health insurance agent and broker commissions have been slashed by as much as 50%. Agencies have been forced to lay off employees, limit products and services, shift to other lines, and have seen significant drops in compensation.