A suite of risk models that provide insurance carriers and direct to consumer platforms with an initial view of applicant risk early in the application process by asking a few simple questions that consumers can quickly answer. The 25, 15, 10, and 5 input-based models were developed as a subset of our labs-based mortality risk model, LifeScore Med360℠, and trained on the same dataset of 1 million life insurance policies over 20 years.
LifeScore A2B can provide value for carriers at the beginning of the application process:
Faster decisions - by speeding up medical risk assessment, the time to decision will go down, which can lead to higher take-rates and overall better customer experience.
Lower unit cost - by simplifying the medical risk assessment, underwriters can save a few hours on many applications. Cumulatively, this leads to higher throughput, lower capacity requirements, or more attention paid to cases that fall outside the model’s optimal use cases.