AXA Life & Health Reinsurance Solutions has selected Verisk’s Health Risk Rating Tool to allow partners to offer automated health insurance underwriting decisions.

Verisk’s solution will be marketed as AXA’s Intelligent Medical Acceptance Tool (IMPACT).

IMPACT is an underwriting platform for AXA Life & Health Reinsurance Solutions’ insurer and broker partners in China.

IMPACT and Verisk’s Health Risk Rating Tool will help automate the assessment of pre-existing medical conditions and aid in making underwriting decisions such as premium loadings and exclusions.

AXA Life & Health Reinsurance Solutions CEO Laurent Pochat-Cottilloux said: “Providing cover for pre-existing medical conditions has traditionally been challenging due to a reliance on slow, manual underwriting processes.

“Through the introduction of the Health Risk Rating Tool via IMPACT, our insurance partners are able to offer a full digitalised customer journey for distributors and insureds with more efficient and sophisticated underwriting decisions in the China market.”

The IMPACT platform will allow customers to provide details about their medical conditions using the Health Risk Rating Tool’s question set, which will generate their relative risk scores.

Shanghai-based AXA Tianping is the first insurance partner to use IMPACT in the North Asian market.

Verisk Life, Health and Travel deputy global managing director Rachel Edwards said: “Many (re)insurers recognise a clear gap in health insurance markets to sell policies in real-time to customers who represent substandard but otherwise manageable risk.

“This is an important milestone for us in the Chinese market, and we hope this development encourages more insurers to make healthcare more accessible to customers with pre-existing conditions.”