Data analytics provider Verisk has announced a partnership with health data consolidation platform Human API.
The partnership will allow Verisk to leverage electronic health record (EHR) data collected by Human API and in-turn produce risk scoring and benchmarking information for life insurers.
Insurers will be able to use Verisk’s analytic tools to inform the underwriting of policies and manage portfolio risk with greater speed and accuracy.
“The underwriting process for life insurance is often time-consuming and invasive for consumers seeking coverage,” said Andrei Pop, Chief Executive Officer of Human API.
“But access to electronic health record data can dramatically enhance the experience for insurers and their potential customers. We’re excited to work with Verisk on solutions that will provide more actionable information that life insurers need to make underwriting decisions faster than ever.”
Nick Irwin, Director of life insurance solutions at Verisk, added, “The growth of electronic health records and patient portals has increased significantly in recent years, opening the door for innovative data-driven approaches to life insurance underwriting and a potentially faster and simpler buying experience for consumers.”
“We look forward to working with Human API in connection with our efforts to develop a new model for life insurers that will leverage artificial intelligence and help them refine risk estimation, improve underwriting assessment, and enhance their portfolios.”
