What is the purpose of the Comprehensive Loss Underwriting Exchange (CLUE)?

The Comprehensive Loss Underwriting Exchange (CLUE) serves primarily to provide insurers with access to consumer claims information for underwriting purposes. This system aggregates data on insurance claims made by consumers over a specific period, which allows insurers to evaluate the risk associated with insuring a property or individual. By understanding a history of claims, insurance companies can make more informed decisions regarding policy issuance, premium calculations, and risk management.

Utilizing CLUE helps insurers to identify patterns or instances of high frequency and severity of claims, which can guide them in developing fair and accurate pricing structures for their policies. Hence, accessing this claims information is crucial for effective underwriting and ensures that insurers maintain an equitable approach to risk assessment.

The other options do not align with the primary focus of CLUE. Providing property assessments relates more to valuation services rather than claims history. Issuing new insurance policies is a broader function of insurance companies that involves various underwriting data, not limited to CLUE. Regulating insurance prices typically falls under the jurisdiction of state insurance regulators and is not a direct function of the CLUE system.