
Deliver inclusive underwriting experiences and expand your market with automated assessment of travelers' pre-existing medical conditions.
Vendor
Verisk
Company Website
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.
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.
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.