(Photo: Michele Limina/BB)
Swiss Re has agreed to market a web-based life insurance risk analysis tool developed by an arm of Massachusetts Mutual Life Insurance Company.
Swiss Re says it will offer MassMutual's LifeScore360 tool as an option for the insurers that use Swiss Re's own automated underwriting system.
Swiss Re will also offer the tool to insurers that use Swiss Re life reinsurance in the United States.
MassMutual's own data science team developed the risk-scoring methods and systems inside the tool. The tool predicts how likely an individual is to die, produces a chart illustrating the factors behind the prediction, and suggests mortality risk score ranges for each risk class.
LifeScore Labs LLC, a MassMutual subsidiary, turned the tool into a product available to other insurers.
— Read 7 New Peeks Inside Life Insurers' Underwriting Machinery on ThinkAdvisor.
