Entries in Deloitte (1)


Insurers Using Consumer Data for Risk Assessment

Photo Courtesy - Getty Images(NEW YORK) -- Insurance companies are turning to consumer habits to assess the health of their customers.

According to the Wall Street Journal, insurers are using consumer-marketing data to estimate a person’s risk for illness. Information from online and offline purchases, along with data from public records such as hunting permits and property transfers are all being used to conduct the risk assessment.

One company, Aviva, examined data from 60,000 of its recent insurance applicants, and found that a “predictive modeling” system proved to be convincing in its ability to arrive at similar results that traditional techniques would. That test was conducted by Deloitte Consulting, and estimated the risk for illnesses such as high blood pressure and depression. 

Other companies considering pursuing a similar route for assessment include AIG and Prudential.

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