Artificial Intelligence (AI) Enables Life Insurance Underwriting, Business and Industry Trends Analysis

Life insurers are relying more and more on AI to verify information and determine risk.  Rather than employ medical personnel to assess physical health, the companies are utilizing third party data for records relating to health, driving habits and property usage, as well as prescription drug histories and electronic health records.  There are also life insurance clearinghouses that offer access to data from past policy applications.  In some cases, insurers may dispatch home medical kits. Haven Life (www.havenlife.com) is a digital insurance agency owned by Massachusetts Mutual Life Insurance Co.  Haven utilizes proprietary algorithms that analyze data from its parent…

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