LifeRisk 360 is a new technology that will assess mortality risk for life insurance applicants using artificial intelligence methods, machine learning, and data from over 20 years in the health insurance industry. This will make it easier for those who need life insurance to apply for it and it will allow the life insurance companies to match individuals to a plan that works best for them based on the output of the technology.
The Chief Data Scientist at MassMutual, Sears Merritt, said about the LifeRisk 360 technology:
“We are excited to introduce LifeRisk 360 – an innovative and distinct life insurance risk assessment platform designed to bring new intelligent insights into a largely manual process. By leveraging linked data elements and machine learning methodologies, our objective is to further reduce underwriting decision time and improve mortality risk selection.”
Should an agreement be reached between MassMutual and Captricity, the LifeRisk 360 technology is expected to be made available to life insurance companies in the early months of 2018.
For more information on MassMutual, or to view resources such as applications and business Forms, visit the company’s website. To learn more about Captricity, it also has a website.
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