Accelerated underwriting and the use of non-traditional data sources are becoming the norm in life insurance underwriting.

Yet Verisk research shows that

only 40 percent

of life insurance applications experience straight-through processing.

Source: Verisk Research

 

How can you harness new forms of data for accelerated underwriting to gain a competitive edge?

Verisk is at the forefront of underwriting automation.

Leveraging artificial intelligence (AI) and machine learning, Verisk is incorporating new types of data and developing InsurTech tools to help life insurers automate underwriting processes. These tools are designed to help insurers to drive faster, better business decisions and create new opportunities for stable and profitable growth.

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Explore solutions

Our Tobacco Usage Propensity Model employs predictive analytics on emerging data assets such as lifestyle data as well as voice analysis of telephone interviews to flag potential tobacco users with a high degree of accuracy.

  • Enable speed and straight-through processing (STP) at point of sale.
  • Allow more customers to go through STP with increased comfort level.
  • Gain lift through predictive scores.
  • Leverage cutting-edge voice analysis.

Learn more

 

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Our Avocation Model helps you identify individuals who participate in extreme sports or high-risk hobbies that can impact life expectancy.

  • Help identify high-risk hobbies that an applicant engages in.
  • Get a resulting mortality score in the form of a letter grade.

Learn more

 

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Our Motor Vehicle Reports (MVRs) give you quick and easy access to driving records to see if applicants are risky drivers.

  • Get records from any state in a uniform, easy-to-read format—complete with translations of violation codes.
  • Spend less time researching violations.
  • Make faster, more informed underwriting decisions.

Learn more

 

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