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July 01, 2019 at 01:57 PM
LifeScore Labs, a Boston-based risk-scoring subsidiary of Massachusetts Mutual Life Insurance Company, recently organized a test program for its new LifeScore360X approach to assessing applicants without use of saliva, blood or other bodily fluids.
(Related: Life Distribtech Deals: SBLI, Pekin, AAA)
The program can help life insurers identify applicants will can be reviewed without use of lab tests, LifeScore says.
LifeScore will be analyzing the differences between a life insurer’s traditional underwriting process and the new LifeScore process. While the new process is being tested, LifeScore will use the results simply to test how well the new risk-scoring approach works, not to underwrite applicants, the company says.
Here’s a look at four other recent life insurance risktech announcements.
MIB Group Inc. and RGA
MIB and Tindall Associates
MIB has made two risktech deals.
One is is with Reinsurance Group of America Inc. (RGA),. The other is with Tindall Associates Inc.
MIB — a consortium that helps life insurers share data used in underwriting — says it has been working with RGA to develop new services life insurers can use to draw on and analyze applicants’ existing electronic health records.
MIB is testing a new Electronic Health Records Service, which will operate as an MIB subsidiary.
RGA is setting up a legally separate Digital Health Data scoring service that life insurers can use to analyze the data coming from the new MIB electronic health records service, MIB says.
