Prudential Life Insurance Korea becomes one of the nation’s most profitable life insurers by automating underwriting.

Document created by Makenna.Brei Advocate on Oct 16, 2017Last modified by Makenna.Brei Advocate on Feb 22, 2018
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Prudential is breathing life into insurance with analytics:

  • Automation of policy contracts from industry standard of 4%–5% to 40%–50%
  • Return on investment of 500% within first year of implementation of FICO® Model Builder
  • Reduction in underwriting costs by 70%, with medical exemption and testing costs slashed in half
  • Improved utilization of underwriters, with expertise now focused on complex policy contracts

 

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