It's only been a year since we launched predictive analytics at Desjardins, when our first predictive model was rolled out in December 2022. Given the many advantages for you and your clients, we wanted to go even further and bring you a
second predictive analytics model.
The new model helps improve the risk analysis so
even more insurance applications can be approved the moment they are signed.
As predictive analytics improves and is used more widely, more people will get their insurance applications approved on the spot!
Improved predictive analytics
Fewer cases referred to underwriting
Keep in mind that predictive analytics uses information submitted by the applicant to determine whether they can be instantly eligible for life insurance coverage solely by
filling out the insurability questionnaire in the e-application, without any further medical testing.
|
Eligible clients | All client types and age groups, as long as they complete the insurability questionnaire with you in the e-application |
|
Type of coverage | Life (participating, permanent, term and universal) and critical illness insurance |
|
Amount | Based on the requirements, any amount already eligible for a point-of-sale decision |
More instantly approved applications
As it comes into wider use, predictive analytics is increasing instant approvals rate. Thanks to this major advance, the percentage of life and critical illness insurance applications approved instantly will increase
from 35% to 38%, which amounts to an
actual 8.5% increase in point-of-sale decisions.
The new predictive analytics model will put us on a more solid footing to become an industry leader. We're always looking for new ways to make our processes more efficient!
FAQ
See the
frequently asked questions for more information on predictive analytics and how it can make your life easier.
Questions?
Contact our Business development team - Insurance.
