Bestow's underwriting platform for carriers
Bestow's underwriting platform gives carriers the flexibility to implement their own risk philosophy — setting thresholds, choosing data vendors, and customizing rules — on top of a modern, extensible foundation. The platform incorporates industry-standard mortality, behavioral, and clinical data, and includes a rules engine that lets carriers test underwriting hypotheses against historical data before pushing the same code to production. It's designed not just for what underwriting looks like today, but for how it will continue to evolve.
Jeremy Bill: We know that underwriting is going to continue to evolve as we go forward, so it’s not just about what you can do today but what are you going to be able to do next year, and the year after, and the year after that, and being able to continue to be flexible and keep up with the market is going to be extremely important.
Laura Boylan: At Bestow, we’ve built a platform that incorporates industry standard data, mortality data, behavioral data to help carriers have really strong insights into the risk of the business that they’re writing and make the best decisions that allow them to balance eligibility, mortality, and expenses.
Jeremy Bill: Each carrier has their own underwriting philosophy, and so as they use our technology they can implement their rules, their preferred data vendors.
Melbourne O’Banion: We give our partners the full autonomy to be able to decide what risk thresholds they want, all the way from instant issue to an RTU process and then a fully underwritten process. So they can turn the knobs and toggle up or down whatever risk thresholds that they want for face values and underwriting criteria and data vendors that they want to use.
Stephanie Nieves-Sanchez: In some cases partners will know exactly what they want and how they want it. And in some cases they’ll come to Bestow and ask for some help on how we structure questions or how we do rules.
Laura Boylan: We have a really robust template of underwriting risks, different types of impairments, both medical and behavioral, and that template can form a jumping off point for carriers to customize their risk evaluation framework to their specific business criteria. The Bestow Rules Engine allows a carrier to develop a hypothesis about an underwriting program, test it on their historical data set to evaluate performance, and then actually launch the same code to production that was used to test their population. When you pair industry-leading data sources like prescription history, medical claims data, clinical labs data with human decision making, you can then optimize the entire workflow to drive protective value, help influence the way that you design automated programs, and help train underwriters to make better decisions.
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