Innovation in Insurance Underwriting: ExamOne^® Introduces Risk IQ

-- New product takes a personalized approach to risk assessment
-- Underwriters have new tool to guide smarter decision about applicants

LENEXA, Kansas, September 16, 2010 – ExamOne, a Quest Diagnostics company and leader in helping insurers meet their underwriting needs, announced today the introduction of Risk IQ^TM.  The innovative Risk IQ tool assesses risks for life insurance applicants by analyzing an array of medical and demographic data, making insurance underwriting more customized, while improving its efficiency and validity.

Risk IQ draws from more than 140 different variables – ranging from laboratory results to age – to provide a score that ranks a life insurance applicant’s risk for mortality.  With this innovative, multi-variate approach, Risk IQ requires less interpretation and medical understanding by underwriters, while giving insurers greater confidence in calculating risk.  Further, Risk IQ can shorten the underwriting cycle by helping insurers gain a clearer assessment of laboratory results and determine what additional information is necessary to complete the application process.

“This customized approach to developing a risk score for insurance applicants will lead to better informed decisions by underwriters,” said Troy Hartman, executive vice president at ExamOne.  “High-risk scores may show a need for additional underwriting requirements that will allow the insurance company to accurately rate a premium.  Conversely, those insurance applicants with low-risk scores may not need to go through as many underwriting steps, making the process faster, more efficient and less costly.”

Risk IQ analyzes ExamOne’s data from 54 million individuals and combines it with the Social Security Death Index to create a unique score for each insurance applicant.  Risk IQ is sensitive to factors that contribute to mortality risk, such as tobacco use, cardiovascular disease, diabetes, and other chronic conditions.  These variables are calculated simultaneously and reflect how health factors influence each other.  The overall risk may be greater than the sum of the individual findings. When the interaction of variables is considered the applicant may be a greater overall risk than would be assessed by considering each individual finding.

Risk IQ has a strong correlation to preferred class ratings and could be used to help ensure applicants are placed into the appropriate risk category.  ExamOne found that individuals with a Risk IQ score of 75 or less have been shown to have better survival rates in many age groups than traditional preferred classes.  During product development, ExamOne researchers identified thousands of examples of individuals with laboratory results within an acceptable range, but their Risk IQ was 90 or greater, putting them at higher risk.

About ExamOne

ExamOne has provided a portfolio of services to the insurance industry since 1972, giving it a great deal of understanding about the needs of life, health and disability insurance providers and their customers.   Laboratory testing was part of the company’s original services and its role has expanded to include paramedical exams, fraud detection, electronic data collection, and gathering attending physician statements and motor vehicle records. ExamOne has also expanded into helping individuals learn about their own health through its Inside Look^TM and Blueprint for Wellness^TM products.  (http://www.examone.com/)

About Quest Diagnostics

Quest Diagnostics is the world's leading provider of diagnostic testing, information and services that patients and doctors need to make better healthcare decisions. The company offers the broadest access to diagnostic testing services through its network of laboratories and patient service centers, and provides interpretive consultation through its extensive medical and scientific staff. Quest Diagnostics is a pioneer in developing innovative diagnostic tests and advanced healthcare information technology solutions that help improve patient care. Additional company information is available at www.QuestDiagnostics.com.

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