Our client is a leading US-based provider of insurance and financial services products including life insurance, retirement plans, and mutual funds.
The underwriting team was overloaded with health screening of incoming applications through a traditional invasive process requiring extensive lab tests to identify high-risk applicants. The client wanted to create an automated process that enables straight-through processing of applications of high-risk individuals.
- The process needed to be non-invasive (without blood testing) for cases where good risk prediction is feasible with non-invasive evidence data such as MVR, MIB, RX
- Automated risk assessment required developing white box interpretable predictive models and triangulation from multiple data sources including external data
- Reconciling and deriving KPIs definition from basic evidence data sources ( MVR, MIB, RX, etc. ) required working widely with the business teams