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Ausgabe: August 2021 | Life/Health North America
Stamford, Connecticut, August 12, 2021 – Gen Re has announced the results of a study of a mortality model created by LexisNexis® Risk Solutions, for use in the underwriting of Individual Life insurance. The goal of the study was to evaluate and compare the current LexisNexis® Risk Classifier model with the new LexisNexis® Risk Classifier with Medical Data tool.
The analysis involved a de-personalized dataset of applicants for Auto, Homeowners or Life insurance on whom medical scoring data exist. Applicants without sufficient medical data were excluded from the sample. The dataset contained over 2 million lives and almost 50,000 deaths. The Gen Re Research & Development team compared mortality results and found that the new model outperformed the previous one throughout the risk spectrum for all age groups and both genders.
Ammon Dixon, VP, Strategic Initiatives, Gen Re Life & Health North America, said, “Our clients need actionable responses to underwriting challenges. The LexisNexis Risk Classifier with Medical Data will be a useful tool for insurance companies to consider for their Individual Life underwriting workflow to improve business results. We look forward to talking with our clients about how best to use this information to achieve their goals.”
It is important to note that this study is not an independent validation because the dataset was provided by LexisNexis® Risk Solutions and is a sample from the data used to build the LexisNexis Risk Classifier with Medical Data scoring model. The sample Gen Re obtained is a 50% random sample and is representative of that data.
Gen Re’s whitepaper provides insight into the results of the study. To learn more about the details of our study, read our white paper and contact Gen Re: https://knowledge.genre.com/evaluating-new-mortality-score-from-lexisnexis-for-life-underwriting
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About Gen Re
Gen Re, a Berkshire Hathaway Company, is one of the leading Life/Health and Property/Casualty reinsurers in the world. Our North American Life/Health reinsurance company, General Re Life Corporation, has superior financial strength ratings among Life and Health reinsurers. Gen Re delivers customized reinsurance programs and risk management solutions for the Life, Medicare Supplement, Critical Illness, and Individual Disability Income markets. Through our research, we also offer valuable information and insights.
