Embracing the insurance opportunities offered by digital technology, SCOR Global Life partners with Vivametrica to develop a new risk model based on data from wearable devices.

As technology evolves, reliable data from wearable devices should streamline and accelerate life insurance underwriting, with multiple benefits for customers. In this regard, SCOR Global Life and Vivametrica, a Canadian Insuretech company specializing in health analytics, have signed a partnership agreement to co-develop an exclusive Mortality and Critical Illness risk model designed to assess the “biological age” of individuals, based on the continuous data provided by their wearable devices. 
This initiative seeks ultimately to increase the number of life insurance products offering discounts, wellness platforms and other benefits to customers whose biological age is lower than their actual age, through a continuous underwriting approach based on real-time data and recurrent touchpoints. Continuous underwriting also minimizes risk, facilitates competitive pricing, speeds up the purchase cycle and improves the bottom line for clients. With leading insurance companies starting to use this approach, the trend looks set to grow. 
We are excited about the advances made in the use of wearables data” comments Vincent Lepez, Asia-Pacific Deputy CEO at SCOR Global Life. “These advances will improve underwriting approaches and product solutions, to the benefit of SCOR’s clients. The partnership with Vivametrica could lead to the first dynamically underwritten products based on strong underlying data evidence.
Drs. Rick Hu and Christy Lane, founders of Vivametrica, comment, “Simple to use and accurate digital biomarkers that predict mortality and health status are critical tools that will enable insurers to build value using new technologies. We believe that SCOR’s highly-regarded risk expertise, combined with our world leading abilities in clinical research, our patent-pending algorithms and our unique 20-year dataset, will change the way that consumers and life insurers embrace digital technology.
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