Many younger life insurance applicants engage in risky hobbies, such as skydiving, bungee jumping, scuba diving, and hang gliding. But identifying these individuals and their risky avocations can be a major challenge.
14% of individuals engage in at least one avocation*
You have only one chance to get life underwriting right
Your customers want a fast quote.
You need accurate information to assess and price risk.
How can you quickly identify and underwrite applicants with risky avocations?
Verisk’s Avocation Model can help
Our Avocation Model uses licensing and marketing data to identify the high-risk hobbies that an applicant engages in and scores the resulting mortality risk in the form of a letter grade.
Enable straight-through processing at point of sale
Improve customer experience
Reduce premium leakage
Gain efficiency by automating the workflow
Uncover valuable underwriting insights on applicants