How does it work?
Using complex mathematical algorithms—continually updated to reflect the latest medical trends and insurer claims data—the Travel Black Box can help accurately assess the increased risk a customer may present, allowing the calculation of any additional premium or increased excess required, according to each scheme’s underwriting criteria.
The beauty of the system is that risk calculations are made based on the customer’s own answers to a carefully worded “live” set of intuitive health questions relating to his or her personal medical history. Medical multipliers also factor in an increased risk associated with the destination in relation to the declared medical conditions.
Insurers that may have previously had to rely on a blanket exclusion for preexisting medical conditions now have a view on the risks presented and can price accordingly—or exclude from cover on a selective basis without having to refer to an underwriter.
Developed by a team of medical, insurance, and IT experts with unique insight into international medical assistance and travel insurance issues, the Travel Black Box has shown results in helping with accurately assessing increased risk presented by individual travelers with preexisting medical conditions.