SCOR, a global reinsurance company, has unveiled SCOR Digital Solutions, a platform dedicated to life and health (L&H) digital services.
This initiative aims to centralise SCOR Life & Health’s key digital assets to enhance the group’s expertise and data capabilities through a software-as-a-service-based technology platform.
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SCOR Digital Solutions will offer clients integrated access to underwriting and claims services, aiming to foster collaborative development and shared value creation.
The platform is a response to rapid advancements in AI, which is expected to improve the speed and quality of decision-making in underwriting and claims processes.
It is designed to be globally scalable, adaptable and modular, unifying SCOR Life & Health’s core digital assets into a comprehensive underwriting and claims technology platform.
Among the digital assets included are Velogica, an automated underwriting suite that assists insurers in accelerating business growth while managing risk.
VClaims, a claims automation solution, is said to streamline the claims experience and operations, also serving as a potent in-force management tool.
The platform will also include health-tech solutions such as SCOR’s Biological Age Model and Good Life solutions that encourage policyholders to maintain healthy lifestyles, thereby enhancing engagement and improving long-term portfolio performance.
BeeTech, a predictive model solution that places data at the forefront of underwriting and claims processes, will also be available on the platform.
SCOR Digital Solutions CEO David Sütterle said: “With SCOR Digital Solutions, we aim to be the preferred innovation partner to navigate through and maximise the value of data for the future of underwriting and claims.
“We strive to offer our clients the best possible experience throughout the entire L&H value chain to help accelerate their businesses, harness new sources of data and analytics, and improve and automate risk selection and decision making through deeper business insights.
“This strategic move underscores SCOR’s commitment to data and technology, which are key drivers in shaping the reinsurer of tomorrow and supporting our clients on their digital journey.”
Last week, SCOR raised its majority stake in MRM by acquiring a further 15.9% stake from Altarea, boosting its total ownership to nearly 72.5%.
