UltraRecoveryScore™
How much time and resources, not to mention money, do you spend on an account that doesn’t pay or pays very little? Margins are getting smaller and smaller while recoveries are becoming harder and harder. PredictiveMetrics (PMI) understands that your time, money, and collection success are important to your liquidation rates. PMI has met the demand for an industry-specific recovery model that quickly and accurately prioritizes collections using our UltraRecoveryScore™.
Advantages of the UltraRecoveryScore is two fold, while others report a collection score, we produce two scores on all debts. The first score is the traditional probability that a debt will be paid in a given amount of time, while the second score predicts the amount that will be paid. The combination of receiving a payer score and dollar score as well as, the advanced reporting PMI provides, gives an agency a superior tool for ranking a debt, while allotting collection resources and personnel most effectively.
UltraRecoveryScore is an empirically derived, multivariate statistical model that was developed by using payment behavior specific to the charged-off bad debt being collected. PMI applied proprietary statistical techniques to more than 10 million observations and blended it with socio-economic and demographic data. PMI supplies this data. The vast pool of observations allows you to segment a portfolio based on the type of debt and placement status. No bureau data is required to produce these accurate scores. Your own internal placement data is applied, resulting in two advantages.
First, is that the data is immediately available and free. Second, it is proven that internal performance data is a much more powerful predictor of successful recovery than scores based merely on external bureau data. The information is specific to the debt type, age, and balance. To ensure ongoing model stability and performance, UltraRecoveryScore is frequently refitted to reflect actual collection results.
The output of the model is a score that is used to rank order accounts to apply different collection strategies based upon cost or impact. UltraRecoveryScore is implemented on PMI’s system and file transfer occurs through encrypted FTP.
Benefits of UltraRecoveryScore
- Maximize liquidation rates by using a dollar and payer score to prioritize collections
- Reduce collection costs and collection time
- Optimize the use of valuable resources
- Increase recoveries by segmenting accounts based on your portfolio
PMI offers a FREE VALIDATION ANALYSIS of UltraRecoveryScore to provide mathematical proof that the score determines the probability of payment and amount to be collected.
