When Good Enough Isn’t Good Enough: Revealing the Segmentation Benefits of Non-medical Data

For life insurance underwriting, the benefits of the “big three” sources of non-medical data are well known. Motor vehicle records are widely used in underwriting because it is intuitive that less risky drivers have lower mortality than risky drivers. Public records, liens and judgments also have widespread adoption as the predictive value of that data is widely accepted.

The real question is: Is that good enough? Or are life insurance carriers leaving strong indicators of predictive value out of the equation?

During this 40-minute webinar, we shared new findings that show the predictive value of non-medical data beyond the “big three” of MVRs, public records and liens and judgments. You’ll see the progression from the traditional “big three” non-medical sources to an intermediate model using broader credit attributes and finally the value a full non-medical data model and the positive behavioral indicators it can provide.

During this session, we also addressed common questions, including:

• Should positive behaviors, such as professional licenses, be evaluated?
• Is payment history a predictive behavior for younger life insurance applicants?
• What is the combined value of moving beyond the “big three” non-medical sources?

If your current approach is “good enough,” this session will show how market and consumer shifts suggest it will not stay that way for long—and how a more complete path can benefit your organization.