How we rate occupation

At Wrisk, we are trying to do better by building up an up-to-date list of modern occupations along with using other factors like employment status.

The insurance industry has spent years building up data on different occupations to figure out how risk levels change between them and which occupations are more likely to file expensive claims. This historic data is an ok start – but some of the data is very dated.

We have based our latest occupation list on the classification from the Office of National Statistics (ONS). This list has ca. 40,000 entries. The occupations have been pre-grouped by the ONS into 369 groups, and we use those groups to rate the occupation (with the possibility to override if necessary).

We want to provide you with the most accurate and personal assessment of risk available so eventually (and with your explicit permission) we might want to experiment with other things like your job history on LinkedIn to help inform our calculation.

Find out more about this and other experiments in Wrisk Labs.

Help us improve this rating

Wrisk isn’t like a normal insurance service – we are always learning and that includes improving the way we assess risk. If you think this Wrisk Factor should be rated differently – please tell us why.

If your feedback results in a rateable change that can be validated as truly predictive by our actuaries and data-scientists – we’ll reward you with an instant credit to your Wrisk balance and/or some Wrisk swag! :-)

Please remember that the validation process can take some time as we need to correlate stuff against historic claims information. Also – evidence with data beats opinions every time.

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