QuaEra Insurance Segment Score (QISS)

QISS can identify lower risk life insurance prospects and increase marketing ROI.

Every business needs to understand its customer. That’s even truer for insurance providers. QISS is a profiling tool for assessing the mortality risk of individuals based on a variety of factors that aren’t included in traditional models. It provides granular visibility of mortality risks, allows you to prioritize your marketing for better penetration rates, and gives you a clear picture of new customers before underwriting. No personal information is necessary from the insured. This means you can provide accurate quotes for applicants without going through the underwriting process, helping you operate at scale. QISS scores are generated by collecting data from the Centers for Disease Control and Prevention, the U.S. Census, and other private and public sources, then combined variables into a single score using a sophisticated proprietary algorithm. Armed with a clear mortality assessment, insurance providers can create strategic pricing models that best serve their customers and stakeholders.

How You’ll Receive Your QISS Score

QISS is available through batch processing. QuaEra will append the score to your flat file or .csv file. Contact us for pricing, delivery details, and a detailed discussion about how QISS can help according to your specific circumstances, as well as a scoring sample of 100 prospects. To learn more, download our brochure.
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How QISS Can Help You

Rank Prospects According to Risk

QISS provides a first level screening with the opportunity to optimize your marketing on more profitable prospects before you engage in full underwriting. This approach prioritizes your marketing for a better penetration and placement rate. QISS saves money by only targeting the segment with the highest potential. Let’s say you target 100 customers without using QISS and realize a 50% response rate and a 10% underwriting rate. If you target the top 20% of prospects using QISS with a 50% response rate, you’ll likely see a 100% underwriting rate. This creates a 5% higher success rate and 80% savings that can be channeled into other marketing zones.

Ranking of X-sell List with QISS

By combining risk and response models, QISS ranks your cross-sell list to identify prospects with the highest chance of signing policies. This targeted approach saves money improving your success rate and reducing your underwriting costs.

Improve Your Existing Underwriting Process

QISS helps you improve the accuracy of your existing underwriting models and quickens the underwriting process (thus saving expensive labor time).

Assess Your Current Customers by External Factors

QISS allows you to compare your expected and actual mortality with consideration to nontraditional and non-medical risk factors. These additional risk factors help you make reinsurance decisions (such as determining the need for reinsurance).

Improve Performance by Assessing Historical Applications

QISS gives you the ability to reevaluate your underwriting practices and guidelines, and assess the value of historical declines and policies that were not taken by the customer.

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