In an era of increased amounts of electronic data and competitive advantages of fast underwriting decisions, SCOR recently partnered with Verisk, a leading data analytics provider, to develop a new tool that helps Life insurers to fast track applications, by using data from consumer-authorized electronic health records (EHRs).
The EHR Triage Engine streamlines the manual underwriting workflow – reducing decision time from weeks to minutes. The tool bypasses manual workflows, leveraging advanced predictive analytics and automation to digitally ingest and analyze EHRs. It can evaluate 95,000 impairments in five minutes or less, so Life insurers can qualify as much as 85 percent of applicants for coverage with minimal or no underwriter review.