“Electronic medical records can be a critical data source for life insurers seeking to simplify underwriting and change the quality of customer service,” said Maroun Mourad, the President of Verisk.
The new platform will receive medical records and by using machine learning algorithms give an assessment to a potential client. This solution is intended to significantly reduce the time required to obtain information from attending physicians.
Access to electronic health information is very important for life insurers. The new platform will help optimize many processes within companies over time. “Verisk is planning to integrate the new solution into the Velogica SCOR Global Life underwriting system, as well as make it accessible to other insurers,” the source said.
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