Verisk Is Launching New Analytics Platform for Life Insurance Underwriting in Collaboration with SCOR
Revolutionary Analytics Platform Uses Artificial Intelligence to Help Insurers Ingest and Interpret Electronic Health Record Data for Automated Medical Underwriting
Verisk (Nasdaq:VRSK), a leading data analytics provider, is launching its new analytics platform for automated underwriting of life insurance in collaboration with SCOR, a Tier 1 global reinsurer. Verisk’s new analytics platform is designed to help improve the life insurance buying experience for consumers and support insurers’ digital transformation. The solution uses artificial intelligence (AI) to help life insurers ingest and interpret electronic health records (EHRs) for real-time underwriting decisions once the appropriate consumer consents have been obtained.
This solution is ultimately intended to substantially reduce the time needed to obtain an attending physician statement and enable accelerated underwriting. The scores will be validated against SCOR Global Life’s underwriting manual and vetted by its medical research and data science teams.
Verisk plans to incorporate the new solution into SCOR Global Life’s Velogica underwriting system as well as make it available via a stand-alone API. Verisk is actively seeking carrier development partners to help develop, test, and validate the solution.
To learn more about how Verisk is bringing data to life, visit www.verisk.com/life.
Source: Verisk Press Release