Swiss Re Arm Helps LifeSecure Enter Life Market: Life Moves

Ellevest and Policygenius

Ellevest — a financial company co-founded by Sallie Krawcheck, the former CEO of Merrill Lynch — has agreed to use the Policygenius digital life insurance exchange to offer life insurance to Ellevest customers.

Ellevest has about $1 billion in client assets under management. Policygenius has placed about $100 billion in life insurance coverage.

IPipeline

IPipeline — a life insurance and financial services information technology company ——says Manulife Financial Corp.’s John Hancock unit has implemented a digital version of iPipeline’s iGo electronic application system. The implementation includes the iPipeline Client Collaboration and AlphaTrust electronic signature features.

Another insurer, Pekin Life, has made iPipeline’s DocFast electronic policy delivery system available to its 8,500 independent agents, to help agents cope with the effects of COVID-19 on USPS mail delivery speed.

LexisNexis Risk Solutions

LexisNexis Risk Solutions — an arm of RELX ——has introduced the LexisNexis Risk Classifier with Medical Data program. The program offers life insurers a mortality forecasting model based on up to six sources of behavioral and medical data.

The data sources include medical diagnosis and clinical lab data compiled by ExamOne, along with prescription data, credit history data, driving records and public records. An insurer must get an applicant’s authorization to use the ExamOne data.

Patrick Sugent, a LexisNexis Risk Solutions vice president, says combining all of the different data sources leads to the mortality risk scores of the top 10% of applicants and the bottom 10% being about 2.5 times further apart than risk scores based solely on prescription data.

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