Verisk Analytics Enters Egypt Health Insurance Market Via AXA Deal

AXA Life & Health Reinsurance Solutions has chosen Verisk Analytics Inc VRSK Health Risk Rating Tool and Ratings Engine to help its insurance partners in Egypt.

Verisk will help automate health insurance underwriting based on the declared pre-existing medical conditions of AXA's customers. 

Through the deal, Verisk will provide a product or service to Egypt's insurance market for the first time.

Verisk's Health Risk Rating Tool will be marketed as AXA's Intelligent Medical Acceptance Tool (IMPACT).

The tool will assess the applicant's pre-existing medical conditions, and generate risk scores that insurers can use to better understand the cost of maintaining a condition and any potential complications.

AXA is already using Verisk's Health Risk Rating Tool in China, Vietnam and the Philippines.

"The addition of the Ratings Engine to our product suite has expanded the value Verisk can add to our customers' underwriting process and has greatly assisted AXA's launch in Egypt," said Managing Director of Verisk Life, Health & Travel, Rachel Edwards.

Price Action: VRSK shares closed higher by 1.07% at $237.19 on Friday.