State Farm
|
Next Challenge: Calling all US solvers ages 18-30, how do you shop for auto insurance online? |
For people who don't have a financial history, it can be extremely difficult to assess someone's risk when weighing whether or not to give loans. For convenience, most financial institutions use the simplest measure available, the credit score.
We are interested in exploring ways to build something comparable to a credit score for people without a financial history. This will enable us to engage customers that we have historically been unable to serve!
To start, get familiar with credit and credit scores, as well as the factors that affect each.
With that foundation for how financial risk is assessed today, submit the following:
1) What data points can banks and financial institutions use to make it possible for people without a financial history to build something comparable to a credit score?2) Why did you select these data points? How can we collect this data?
3) Do you have any additional insights into technical ways to perform risk assessment? Analytics and algorithms will likely be useful tools here.
Scoring Criteria
Top submissions will formulate a compelling and data-driven argument for a new type of risk assessment. The necessary data must be accessible, and the proposed technology must be feasible.
-
Submissions will be graded on the following criteria:
- Meets Deliverables
- Creativity
- Clarity
will share $1,000
will share $400
will share $200
| $166.70 |
|
Dan Metzler University of California at San Diego | |
| $166.70 |
|
Miles White University of South Florida | |
| $166.70 |
|
Matthew Gaiser Queen's University | |
| $166.70 |
|
Sophia T McMaster University | |
| $166.70 |
|
Hayward Chan University of Toronto | |
| $166.70 |
|
Sayantan Ghosh Jadavpur University, India | |
| $50.00 |
|
Ansh Tayal National Institute of Technology Trichy | |
| $50.00 |
|
Poonam Bajaj Washington State University | |
| $50.00 |
|
Benjamin Fultz University of Minnesota | |
| $50.00 |
|
Eric Lee Washington University in St. Louis | |
| $50.00 |
|
Tarun Jha University of Florida | |
| $50.00 |
|
Paul Tessier | |
| $50.00 |
|
julie.montesdeoca | |
| $50.00 |
|
rachael.fassnacht | |
| $14.30 |
|
Francis Daniel Santia Harvard University | |
| $14.30 |
|
Chris Zabriskie | |
| $14.30 |
|
Kyla Scanlon Western Kentucky University | |
| $14.30 |
|
Meagan Bartlett Columbus State Community College | |
| $14.30 |
|
Havan Agrawal K.J. Somaiya College of Engineering | |
| $14.30 |
|
Siranjeevi D Columbia University | |
| $14.30 |
|
Christina Liu San Diego State University | |
| $14.30 |
|
Robert S Cinnamon Virginia Community College System | |
| $14.30 |
|
Pavitra Siva University of Michigan | |
| $14.30 |
|
Kirsty Park Dublin City University | |
| $14.30 |
|
Ossama El Nadi York University | |
| $14.30 |
|
Emily Rose University of Illinois | |
| $14.30 |
|
Zachary Woodward South Dakota State University | |
| $14.30 |
|
Kiara Rush |