“Together with ExamOne, we can offer carriers real-time access to automated decision-making, powered by insight from data products combined with comprehensive rules.” Brett Laker, UnderwriteMe
BOSTON, MA, January 18, 2024 /24-7PressRelease/ — UnderwriteMe, a number one supplier of danger automation and market options, is happy to announce a collaboration with ExamOne, a Quest Diagnostics (NYSE: DGX) firm, to supply life insurance coverage carriers throughout the United States a brand new underwriting evaluation engine powered by real-time information insights.
By leveraging each UnderwriteMe’s versatile Underwriting Engine and ExamOne’s main suite of well being information options, the businesses now collectively supply a strategic answer for carriers and underwriters with a purpose of enhancing straight-through processing charges and empowering underwriters with extra environment friendly instruments for assured danger evaluation. The consumer-centric expertise is obtainable for insurance coverage carriers right this moment.
Real-time and seamless suggestions
“Clients today expect the application process to be seamless and on par with the on-demand experiences they are accustomed to,” stated Brett Laker, Head of North America, UnderwriteMe. “Together with ExamOne, we can offer carriers real-time access to decision-making, powered by insight from data products combined with comprehensive rules.”
UnderwriteMe’s engine interprets information approved by life insurance coverage candidates and picked up by ExamOne to ship a risk-based evaluation to insurers. By clearly explaining contributing elements outlined within the information and making use of a debit and credit score classification, the joint answer allows insurers to guage a person’s insurance coverage danger based mostly on numerous information sources.
The highly effective mixture of ExamOne and UnderwriteMe creates:
– Unmatched evaluation ensuing from ExamOne’s complete and distinctive information sources
– Customizable and versatile rule units
– Explainability of the choice established from contributing elements
– Robust choice suggestions based mostly on a debit and credit score classification
– Seamless adoption that simply matches into underwriting workflows
– Streamlined and sooner information for a extra automated circulation
“There is a growing demand for agile and straight-through automated processes in the life insurance industry. This tool analyzes unique data—including LabPiQture™ (laboratory data and clinical data), ScriptCheck® (prescription data), electronic health records, medical claims, and oral health indicators—and delivers an assessment in a clearly explained format,” stated Keith Ward, President and General Manager of ExamOne at Quest Diagnostics. “Our team is here to work with you to rapidly amend or create new rules based on the insights you need to make confident decisions.”
The use and disclosure of PHI is in accordance with HIPAA and is compliant with life insurance coverage business regulatory necessities.
To study extra in regards to the automated underwriting evaluation engine, and UnderwriteMe’s Decision Platform, click on right here.
ExamOne, a Quest Diagnostics firm, is dedicated to empowering selections with health-based insights and offering customers with revolutionary options that improve the applying course of. Through handy, customizable private historical past choices, nationwide specimen assortment capabilities, in addition to prompt retrieval of historic well being information, we offer fast and dependable insights for all times insurers.
UnderwriteMe, a number one supplier of danger automation and market options, is targeted on accelerating the underwriting journey and enhancing the life insurance coverage software course of. With our award-winning options, the UnderwriteMe Decision Platform and Protection Platform, we empower companions to rework life markets and shut the safety hole. Founded in 2012 within the UK, the corporate has grown to be a number one insuretech supplier with 1,000,000+ insurance policies activated, 1,000+ distribution companions, and 31 world implementations spanning 12 nations. UnderwriteMe is proud to be trusted by insurance coverage business leaders together with eight firms listed within the Fortune 500 or Forbes Global 2000. To study extra go to www.underwriteme.us.
For additional data:
Jennifer Petrella, Quest Diagnostics (Media): 973-520-2800 or [email protected]; Shawn Bevec, Quest Diagnostics (Investors): 973-520-2900
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