Computer Sciences Corporation(CSC), a provider of IT services, has signed an alliance agreement with BioSignia, a science and technology company, to offer North American life insurers and reinsurers Mortality Assessment Technology (MAT), a science-based predictive underwriting tool developed by BioSignia.
Under this agreement, CSC will host MAT as a secure cloud-based service, while BioSignia will continue to own, maintain and enhance the intellectual property.
CSC said that the MAT incorporates relevant medical studies, evaluates each individual’s risk in totality and offers insurers the flexibility to adapt MAT for use with their own underwriting criteria.
BioSignia chairman and CEO John Williams said the company has chosen CSC as its industry partner to offer MAT to life insurers and reinsurers in a way that’s easy and cost-effective to consume.
CSC’s Life Insurance and Annuity Division president Michael Risley said by hosting MAT as a secure cloud-based service, CSC will help insurers improve their underwriting and policy pricing accuracy — ultimately raising their profitability.
"Reinsurers using MAT will be more confident about the value of acquired books of business and can reflect such in their financials," Risley said.