The last 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 danger administration profit that makes full use of all out there information sources, with notably low ranges of redundancy.
A granular evaluation of our information demonstrates the dramatic monetary affect 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 medical and life insurance coverage lab information and medical claims via ExamOne’s Danger Identifier, the protecting worth extra than triples, climbing to $4,435.
This substantial enhance 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 totally new to the underwriting course of. This precept is finest illustrated via a sensible underwriting situation that Danger Identifier is constructed to resolve. Contemplate two 45-year-old male candidates who each disclose a historical past of diabetes and therapy with metformin. On paper, they current an identical danger. But, the mixing of historic A1c lab information inside ExamOne’s Danger Identifier reveals a vital 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 that will necessitate a decline or RUW. This perception, out there solely via the synthesis of information inside Danger Identifier, instantly prevents antiselection and protects towards important mortality prices.
Finally, this built-in and condition-focused method delivers a superior and quantifiable return on funding. The multidimensional and correct view of danger supplied by ExamOne’s Danger Identifier instantly enhances the underside line via a demonstrable enhance in protecting worth.
To study extra about ExamOne’s Danger Identifier and the way it can match into your workflow, contact your Strategic Account Government or request a gathering right here.
