Vivametrica Founder and Co-CEO Presents at Society of Actuaries Seminar
Last month, Vivametrica’s founder and Co-CEO Dr. Christy Lane had the opportunity to present at one of the world’s premier events for actuaries: the SOA 2018 Underwriting Issues & Innovation Seminar in Chicago. Presented by the Society of Actuaries (SOA) and the Product Development Section, the 2018 Underwriting Issues and Innovation Seminar provided information on the latest underwriting topics. This was the sixth instalment of this highly-regarded seminar and covered various topics including:
- Behavioral economics;
- Practical uses of predictive analytics;
- Smoker propensity models;
- InsurTech;
- Early experience on accelerated underwriting programs
With multiple stakeholders from the insurance industry attending, Christy introduced Vivametrica’s current work in the space. We are currently at an exciting phase of growth as we expand both our team and product offerings. Vivametrica has developed accurate and scientifically-based models for prediction of mortality and chronic disease. Based on our previous work with two of the world’s largest reinsurers, we have identified that physical activity is an important factor in the equation. With our technology and models Vivametrica has found a way to leverage smartphones and wearables in order to turn raw step data into simple, predictive, digestible health scores. Our database continues to grow as we refine our models, currently Vivametrica has over 1 M individuals in our curated clinical database from which we develop our analyses.
In insurance Vivametrica is in the process of several projects with both Canadian and US carriers, as well as continuing to work in Asia. We are aiming to bring product to market at the end of 2018. At SOA, Christy connected with many insurers who are interested in how Vivametrica can augment the underwriting process, or how our platform can be used to engage users.
Although the insurance industry in general continues to be slow to adopt new technologies and ways of doing business, we are seeing an impetus for change as market forces evolve. If you are a forward-looking insurer looking for innovation, get in touch with our team today.
