The final word measure of an underwriting device’s efficacy is its “protecting worth.” It represents the quantifiable mortality financial savings achieved by precisely figuring out and pricing dangers that may in any other case be missed. The subtle, condition-focused guidelines engine inside ExamOne’s Danger Identifier gives a holistic view of an applicant, delivering a monetary and threat administration profit that makes full use of all obtainable information sources, with notably low ranges of redundancy.
A granular evaluation of our information demonstrates the dramatic monetary influence of this holistic view. When considered in isolation, a single information supply like prescription historical past yields a protecting worth
of roughly $1,303 on a normal coverage. Nevertheless, when this data is fused with scientific and life insurance coverage lab information and medical claims by means of ExamOne’s Danger Identifier, the protecting worth extra than triples, climbing to $4,435.
This substantial improve stems from the distinctive, minimally overlapping insights every information supply gives; our evaluation reveals that even when prescription and claims information are already in use, 67.1% of the entire protecting worth of lab information is completely new to the underwriting course of. This precept is greatest illustrated by means of a sensible underwriting situation that Danger Identifier is constructed to resolve. Think about two 45-year-old male candidates who each disclose a historical past of diabetes and remedy with metformin. On paper, they current an analogous threat. But, the combination of historic A1c lab information inside ExamOne’s Danger Identifier reveals an important distinction: one applicant’s A1c of 6.6% factors to a well-managed situation, warranting a advisable table-rating approval. The opposite’s A1c of 11.2% indicators a poorly managed, high-risk profile which will necessitate a decline or RUW. This perception, obtainable solely by means of the synthesis of information inside Danger Identifier, straight prevents antiselection and protects in opposition to vital mortality prices.
Finally, this built-in and condition-focused strategy delivers a superior and quantifiable return on funding. The multidimensional and correct view of threat offered by ExamOne’s Danger Identifier straight enhances the underside line by means of a demonstrable improve in protecting worth.
To be taught extra about ExamOne’s Danger Identifier and the way it can match into your workflow, contact your Strategic Account Govt or request a gathering right here.
