Verisk, an American data analytics, and risk assessment firm, has established a partnership with a real-time health data network, Human API, to work together on Verisk’s new InsurTech tools. This partnership will enable Verisk to utilize electronic health record (EHR) data collected by Human API, and generate risk scoring and benchmarking information for life insurers. With this collaboration, insurers will be capable of using Verisk`s analytic tools to assist underwrite policies and manage portfolio risk with greater pace and precision and advance service for the rising number of consumers who desire to share their electronic health data.
On this partnership, Director of life insurance solutions at Verisk, Nick Irwin said that the growth of electronic health records and patient portals has increased significantly in recent years, opening the door for innovative data-driven approaches to life insurance underwriting and a potentially faster and simpler buying experience for consumers. Irwin further stated that we look forward to working with Human API in connection with our efforts to develop a new model for life insurers that will leverage artificial intelligence and help them refine risk estimation, improve underwriting assessment, and enhance their portfolios.
Seated in Jersey City, New Jersey, Verisk serves customers in the field of insurance, natural resources, financial services, government, and risk management across the globe. Conversely, Human API is a data aggregation that provides a platform that stores and abstracts data from mobile devices, wearable sensors, and other data sources. San Mateo, California-based Human API allows users to securely share their health data with their application, offering them with real-time access to digital, structured medical records and health data from thousands of clinics, labs, pharmacies, devices, and apps.