SCOR and HealthyHealth Group, a company focused on the speed, accuracy, and cost of digital Life and Health underwriting, are partnering to build the future of the digital underwriting process by designing products and solutions that use digital health data to provide instant underwriting decisions to customers.
Leveraging SCOR’s underwriting and risk expertise and HealthyHealth’s proven technology, this partnership brings innovative solutions to SCOR’s insurer clients, enabling them to make more rapid, data-driven, approval decisions. In line with SCOR’s goal of protecting people and societies through the expansion of Life insurance coverage, this partnership will help insurers transform their underwriting processes, freeing up time for them to support clients with more complicated backgrounds, and to do so with enhanced information.
Transforming data into knowledge, HealthyHealth’s solution analyses health data from smartphones and wearables, shared with insurers by Life insurance applicants, to predict applicants’ risk of developing critical medical conditions and to assess ‘extra-mortality’ and ‘extra-morbidity’ risks. With insurers embracing digital innovation, HealthyHealth’s technology further optimizes, and may ultimately replace, the traditional underwriting journey. Across several regions, insurers are already seeing the benefits of shortening medical questionnaires and adopting fluidless underwriting protocols, enjoying valuable gains in time, lower costs, higher conversion rates, and better underwriting outcomes.
This collaboration will be rolled out worldwide, and SCOR looks forward to deepening its work with HealthyHealth to bring this solution to more markets and consumers around the world.