Today marks the start of our new levy insolvency risk partnership with Dun & Bradstreet (D&B), and a range of new services we’ve developed with them.
We’re also launching an online consultation on those new services and the changes proposed to our insolvency risk methodology from 2021/22.
New D&B online portal
Levy payers can view insolvency risk scores produced by D&B using the proposed methodology for the 2021/22 levy year through a brand new online portal. They can also engage with D&B customer services through a wide range of channels.
Insolvency risk scores for 2020/21 can still be viewed via the Experian portal.
For the first time the new portal with D&B will include webchat and the ability to submit queries online. We’ll be sending trustees individual instructions on how to log in over the next few days, so look out for the email heading your way.
We’re introducing the portal in ‘beta’ form, as we expect to make further changes and improvements before we finalise the design and functionality.
Our consultations have gone online
Last month we refreshed the levy section of our website, and today we’ve introduced a further innovation, our online consultation form.
You can choose to respond to the full range of questions online, or if you prefer, there’s a shorter, 15 minute questionnaire.
We’ve introduced these online options to meet the demand we’ve had from some levy payers, including members of our SME Forum. However, it’s also still possible to respond in the traditional paper-based way if you prefer.
We’re looking forward to receiving our first online submissions!
What the consultation covers
The insolvency risk methodology established with Experian is working well, so largely D&B will use the same approach. However, D&B scores will be recalibrated to make sure they reflect actual insolvency experience.
We’re seeking views on a small number of changes to respond to stakeholder feedback. For example:
- We’re replacing the mortgage age variable, an issue raised with us by the SME Forum in particular.
- D&B collate and manage data differently to Experian.
- The new portal and the associated online services.
We think these differences help improve the risk reflectiveness of the levy but inevitably these changes do mean a proportion of schemes will see employers changing scores. The consultation sets out our analysis of the impact.
If you’re a levy payer we strongly encourage you to engage with D&B early to help make sure the latest and most accurate information will be used in scoring.
How to get involved
This is an exciting moment for us. We believe the changes we’re introducing are significant improvements, making it quicker and easier for you to engage with us. But we need your feedback to help us get it right.
Proud of our work with Experian
The move to D&B doesn’t reflect dissatisfaction with our existing partner, Experian. We’re proud of the work we’ve done with the team –there to produce and refine our bespoke insolvency risk model.
However, our contract with Experian ends in 2021 and we’re required to undertake a competitive procurement for the service once it ends. We took the opportunity to look for a partner who could build on the successes of the existing methodology and also help us develop services fit for the 21st century. D&B won that tender.
If you have any questions about the new D&B portal please contact 0345 600 2541 or email [email protected].
If you have any questions about the consultation please email us [email protected].