Underwriting life insurance is often an expensive and time-consuming task, because insurers must often comb through extensive forms and reports, order on-site physical exams, and review lab test results. Investigating claims can be just as burdensome, especially because insurers must find missing beneficiaries and comply with changing regulations.

 

How do you optimize your workflow while maintaining the integrity associated with traditional underwriting and claims?

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Optimize your workflow with robust data and analytics

Leveraging robust data and advanced analytics, Verisk is developing solutions to help life insurers make critical underwriting and claims decisions with increased speed and precision.

 

Explore Verisk’s life insurance underwriting 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.

  • Improve efficiency and productivity by focusing your time only on the cases that require further review.
  • Reduce the need for lab tests for applicants who aren’t flagged as potential tobacco users.

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Our Avocation Model leverages licensing and marketing data to help you identify individuals who participate in extreme sports or high-risk hobbies that can impact life expectancy.

  • Quickly help identify an applicant’s high-risk hobbies.
  • Accelerate underwriting by reducing the need to review additional forms.
  • Get a resulting score in the form of a letter grade.

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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 and more likely to be involved in fatal car accidents.

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

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Explore Verisk’s life insurance claims solutions

ISO ClaimSearch uses our robust database of claims and advanced claims-matching technology to help you uncover fraud at point of claim.

  • Uncover potentially fraudulent claims with increased speed.
  • Have claims automatically checked and reported for fraud, child support liens, and the Office of Foreign Assets Control (OFAC).
  • Find missing beneficiaries more quickly with updated address information.

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