Use Case

Enhancing Life Insurance Risk Modeling

Leverage Fusionbase's comprehensive external datasets, including regional socio-economic factors, proximity to various points of interest, and environmental data, to refine and enhance risk models for life insurance.

fusionbase-mortality-data-for-life-insurance-risk-modeling

Fusionbase Data Hub

External Data for Life Risk Modeling

With Fusionbase, life insurance companies can deeply integrate external data into their risk assessment workflows. This enriched approach provides a more nuanced understanding of risks associated with individual policyholders. Following external data can improve your life risk models:

Socio economic Indicators: Use socioeconomic indicators on postal code level for multiple countries like Germany to improve regional differentiation in your risk models.
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Health Infrastructure: Use regional statistics on health infrastructure like patient access to hospitals to make your risk models more accurate.
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Your Benefits

Improved Risk Prediction: Enhance accuracy in predicting policyholder risk using comprehensive external datasets.
Tailored Premiums: Offer more accurately priced premiums that reflect the true risk profile of each policyholder.
Increased Competitive Edge: Stay ahead of competitors by adopting advanced data-driven risk assessment techniques.

Without Fusionbase

Limited risk differentiation based on generalized demographic data.

Inconsistent risk assessment due to lack of comprehensive external data.

Over-reliance on historical claims data which may not reflect current realities.

With Fusionbase

Dynamic risk modeling incorporating socio-economic and environmental data.

Consistent and detailed risk profiles based on extensive external datasets.

Proactive adjustment of premiums and policies based on current data insights.

Let's dive deeper into your use case

We can show you how to leverage the right external data for your personal use case - for free.