Are you efficiently and inclusively underwriting for pre-existing medical conditions?
Medical underwriting can be laborious—and may come at a cost. Customers or insurers often need to complete lengthy medical reports and supply supporting evidence from a doctor or specialist. Once these steps are done—often followed by requests for clarification—the risks posed by a customer’s pre-existing medical conditions can still be excluded.
Automate medical risk assessment
The Verisk Health Risk Rating Tool helps you automate medical risk assessment and underwrite inclusively for your health insurance customers, including those with pre-existing conditions.
Underwrite at the point of sale
You can quickly and easily implement the Health Risk Rating Tool through an application programming interface (API) or widget plugin solution.
Increase market share
More inclusive underwriting will enable your organization to help close the health insurance gap, and increase your market share.
Streamline claims workflows
The Health Risk Rating Tool can easily identify and match pre-existing conditions to claims using consistent medical codes (ICD 9 and 10).
Inform your underwriting decisions
Verisk automates medical risk assessment, providing information to support fast and consistent responses. Instant results follow the completion of a simple, intuitive self-declaration of a customer’s medical conditions.
Inform your underwriting decisions
Integrate your own rules into the Health Risk Rating Tool
When you use the Ratings Engine to enhance the Health Risk Rating Tool, you can embed your own underwriting rules, providing real-time cover decisions to end users and creating a robust use case for brokers and other insurance intermediaries.
Integrate your own rules into the Health Risk Rating Tool
Features and capabilities
Automated assessment
Increase conversion rates and cut overhead using our dynamic question set, which generates relative risk scores to represent the total medical exposure of pre-existing conditions—without the inefficient and lengthy underwriting process.
Robust analytic foundation
Gain insight from our industry-leading experts in medical risk assessment, who develop and maintain the Health Risk Rating Tool analytics based on understanding the natural progression of medical conditions and claim costs.
Consistent medical coding
Identify pre-existing conditions using consistent medical codes (ICD 9 and 10), which can help match pre-existing medical conditions to claims.
Related resources
Stay in the know about important industry trends and innovative solutions.
Case study
AXA Tianping boost sales by 30% through the Health Risk Rating Tool
Discover how AXA profitably insures a wider book of business by automating the assessment of pre-existing medical conditions.
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Healthspan: Risk and opportunity in chronic illness for life insurers
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Upcoming Chinese regulations push for automation in underwriting
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