SCOR recently conducted a mortality analysis using LexisNexis® Risk Solutions data to assess the effectiveness of the LexisNexis Risk Classifier with Medical Data scores in stratifying mortality risk when compared to the LexisNexis Risk Classifier scores and ExamOne HealthPiQture scores separately.
Risk Management (General)
As digital data becomes more available and accessible, life insurers are exploring how to use this alternative data to assess applicants.
Life is finite. That is one certainty we all understand. The final resolution… death. In many basic ways, this simple but universal concept is what fuels the life insurance industry. In most instances the unknown is when, during an individual’s life span, death will rear its ‘ugly head’. The concept of risk selection or underwriting exists in order to allow insurance carriers to try to ‘predict’ what a given individual’s remaining life expectancy might be.
Companies that embraced growth strategies before COVID-19 were poised to tackle even the biggest challenges brought on by the pandemic, including a lack of traditional underwriting requirements, the shift in consumer needs, and changing distribution channels.
RGA's Melissa Gallegos provides an overview of current foreign travel risk and urges insurers to remain vigilant and view every country as a world of its own.
It is interesting (well, we think so) to reflect on how evidence requirements differ from market to market.
Evaluation of HealthPiQture Model Lift and a Novel Comparison to Traditional Insurance Exam + Lab Risk Identification
Technology can help insurers reconcile the need for speed with the need for careful risk assessment.
RGA's Dr. Sheetal Salgaonkar, Vice President and Medical Director, Global Medical, RGA India, offers a fascinating case study on serum protein tests and how they should be considered in risk assessment.
PartnerRe Review of LexisNexis® Risk Classifier with Medical Data – Combined Model Indicates Greater Predictive Value
PartnerRe’s analytics experts evaluated the Life predictive model, LexisNexis® Risk Classifier with Medical Data. Here we present the results of our objective and detailed review of the model.