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2019 Annual & Corporate
Responsibility Report

Staying Ahead of Disruption

Data Science & Transparency

Better Transparency for Consumers and the Marketplace: LifeScore LabsSM

Based on the success we’ve had with algorithmic underwriting, we launched a new subsidiary with the goal of setting the standard for life insurance underwriting while providing transparency to all involved parties. LifeScore Labs hit the market in early 2019 and is currently offering four life insurance underwriting models.

MyLifeScoreSM was introduced in 2019 as a free online risk assessment tool for consumers, providing insight into how insurance carriers may measure your risk. Based on the answers to as few as 10 simple questions on characteristics such as age, height, weight, and smoking status, consumers are provided with a score between 1 and 100 (with 100 being the best). They also get a report on the factors that contributed to the score. The goal is to help consumers better understand and interpret how their risk profile may impact their life insurance risk. All data, scores, and reports are anonymous and not shared with other life insurance companies or third parties.

The remaining solutions offered by LifeScore Labs are marketed directly to underwriting platform providers or directly to carriers with the goal of streamlining and/or digitizing their underwriting process to provide a better customer application experience.

Data Science: Using Data to Improve Customer Experience

We began developing our own data science practice five years ago to stay ahead of rapid acceleration in the field and to ensure our offerings continue to stay cutting edge, customer focused, and can support our financial professionals with the best possible tools. Today, the practice includes a team of nearly 50 data scientists, with additional recruitment ongoing, largely through our partnerships with colleges. This focus on data science has helped us stay ahead of digital disruption in the marketplace and has uncovered several breakthroughs that are transforming customer experience in multiple ways, allowing us to better assess risk and provide coverage faster.