Underwriting and Rating

Travel Risk Rating Tool

Deliver an inclusive underwriting experience and expand your market with the automated assessment of travelers’ pre-existing medical conditions.

How do you underwrite travel insurance for pre-existing medical conditions?

Today’s travel health insurance customers expect a quick purchase and full coverage of their healthcare needs overseas. But coverage traditionally has excluded pre-existing medical conditions, leading to complex, adversarial, and drawn-out claim processes. How can you efficiently underwrite travel insurance for these conditions?

Automate the assessment of travelers’ pre-existing medical conditions

The Verisk Health Risk Rating Tool helps you automate medical risk assessment and underwrite inclusively for your travel insurance customers, including those with pre-existing conditions.

Underwrite at the point of sale

You can quickly and easily implement the Travel Risk Rating Tool through an application programming interface (API) or widget plugin solution.

Increase market share

Your organization can provide coverage for customers with pre-existing medical conditions through more inclusive underwriting.

Streamline claims workflows

Easily identify and match pre-existing medical conditions to claims using consistent medical codes (ICD 9 and 10).

Automate your medical underwriting with the Verisk Travel Risk Rating Tool

The Travel Risk Rating Tool automates the assessment of customers’ pre-existing medical conditions with a full view of medical risk. The tool integrates seamlessly with your sales, and customers answer simple, focused questions to reach a relative risk score that can be used for underwriting and pricing.

Automate your medical underwriting with the Verisk Travel Risk Rating Tool

Integrate your own rules into the Travel Risk Rating Tool

When you use the Ratings Engine to enhance the Travel Risk Rating Tool, you can embed your own underwriting rules into the platform, 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 Travel Risk Rating Tool

Two Individuals Looking At Laptop Screen

Risk assessment training is vital to any insurance sales operation. Access the Travel Risk Rating Tool e-training for a convenient, interactive learning experience where and when you choose.

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.

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.

Robust analytic foundation

Gain insight from our industry-leading experts in medical risk assessment, who develop and maintain the Travel Risk Rating Tool analytics based on understanding the natural progression of medical conditions and claim costs.

Deliver inclusive underwriting experiences and expand your market with automated assessment of customers’ pre-existing medical conditions.

Learn about the Health Risk Rating Tool

Related resources

Stay in the know about important industry trends and innovative solutions.

Article

COVID-19 and FCA signposting delay give travel insurers time to reflect on cover

As the FCA signposting rules encourage insurers to direct potential business elsewhere, insurers may need to re-evaluate their cover.

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Article

EU warning on pre-existing conditions should prompt travel insurance reform

While the exclusion of pre-existing medical conditions in travel insurance policies has been standard practice in Europe, there is regulatory pressure to reform.

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Webinar

Canada Session: Is Canada On the Cusp of a Travel Insurance Renaissance?

This webinar explores some of the general trends in the Canadian travel insurance market and the impact of COVID-19 and tells how to stay competitive after the pandemic.

View the webinar on demand