Global reinsurer SCOR is partnering with digital life and health underwriting specialist HealthyHealth to help provide customers with instant underwriting decisions via new data-driven solutions.
HealthyHealth’s product analyses health data from smartphones and wearables, shared with insurers by life insurance applicants, to predict applicants’ risk of developing critical medical conditions and to assess ‘extra-mortality’ and ‘extra-morbidity’ risks.
This collaboration is set to be rolled out worldwide using SCOR’s global client network.
“This is an exciting time in the evolution of Life & Health insurance underwriting, and we believe there are tangible benefits for customers in this trend of using digital health records to transform the underwriting journey,” adds Gavin Maguire, Head of Innovation at SCOR Global Life UK & Ireland, who views this as a great opportunity to develop the Life and Health insurance products of the future.
“HealthyHealth has developed a slick end-to-end process that is intuitive and easy, leading to quicker underwriting decisions that is beneficial and important to our clients.”
“We are excited to work with SCOR on revolutionizing the way insurers underwrite,” adds Luca Schnettler, Group CEO at HealthyHealth. “SCOR’s backing as a globally respected and leading reinsurer will help us, together, to move towards a more cost effective, frictionless customer journey.”