Today’s travel health insurance customers expect a quick purchase and full coverage of their healthcare needs overseas. But coverage traditionally has excluded pre-existing medical conditions, leading to complex, adversarial, and drawn-out claim processes. How can you efficiently underwrite travel insurance for these conditions?
The Verisk Travel Risk Rating Tool helps you underwrite your travel health insurance customers inclusively, including those with pre-existing medical conditions.
You can quickly and easily implement the Travel Risk Rating Tool through an application programming interface (API) or widget plugin solution.
Your organisation can provide coverage for customers with pre-existing medical conditions through more inclusive underwriting.
Easily identify and match pre-existing medical conditions to claims using consistent medical codes (ICD 9 and 10).
The Travel Risk Rating Tool automates the assessment of customers’ pre-existing medical conditions with a full view of medical risk. The tool integrates seamlessly with your sales, and customers answer simple, focused questions to reach a relative risk score that can be used for underwriting and pricing.
When you use the Ratings Engine to enhance the Travel Risk Rating Tool, you can embed your own underwriting rules into the platform, providing real-time cover decisions to end users and create a robust use case for brokers and other insurance intermediaries.
Increase conversion rates and cut overhead using our dynamic question set, which generates relative risk scores to represent the total medical exposure of pre-existing conditions—without the inefficient and lengthy underwriting process.
Identify pre-existing conditions using consistent medical codes (ICD 9 and 10, which can help match pre-existing medical conditions to claims.
Gain insight from our industry-leading experts in medical risk assessment, who develop and maintain the Travel Risk Rating Tool analytics based on understanding the natural progression of medical conditions and claim costs.