StoneRiver Links with SCOR Global Life Americas to Accelerate Underwriting Cases for Simplified Issue Life [Manufacturing Close – Up]
Proquest LLC |
According to a release, the solution integrates Velogica, SCOR's automated underwriting engine, and LifeSuite Results Manager,
As part of this strategic alliance,
Velogica's underwriting engine interprets details from multiple sources MVR, MIB reports and prescription drug histories and correlates the data with information collected on the application. Velogica's complex algorithm enables an underwriting recommendation in real time. In 95 percent of all cases, Velogica has made an underwriting recommendation without the involvement of an underwriter, and 90 percent of the time, it delivered the result in under a minute.
By combining Velogica and LifeSuite Results Manager, carriers can now solution for middle market life insurance business.
SCOR and
While companies still can purchase Velogica and the LifeSuite Underwriting System independently, the collaborative solution can lower costs and integration efforts for life insurers who want to enter or expand their participation in the middle market.
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