What’s the Future of InsurTech With Digital Health Risk Underwriting Innovation?

• Qumata is innovating in the InsurTech industry by digitising the Life and Health Insurance Underwriting process
• The startup’s differentials are its strong data-driven approach and the ability to calculate diagnosis risks for over 800 conditions
• The future of InsurTech with digital health risk underwriting is promising with businesses like Qumata leading the change

Qumata, previously known as HealthyHealth, is an up-and-coming InsurTech startup based in London, UK. The company is focused on creating unprecedented changes in the insurance industry – specifically in Life and Health Insurance Underwriting. With digitalisation at its core, Qumata utilises a robust data-led approach to calculate and assess the risk of diagnosis for over 800 conditions. This approach not only expedites the entire process but also eliminates the necessity for tedious questionnaires or doctor visits.

Beyond disrupting the norm, Qumata’s innovative methods provide a far more efficient and convenient solution for applicants. The integration of digital data into underwriting signifies a notable stride in the transformation of InsurTech as it melds with the concept of digital health risk.

Qumata differentiates itself from most InsurTech startups with a data-centric modus operandi. The company, rather than solely relying on traditional and manual underwriting methods, uses digital data to significantly enhance accuracy and speed in risk calculation. This innovative approach to underwriting takes into account Extra Mortalities and Morbidities, thereby providing a comprehensive, data-backed risk analysis.

Furthermore, Qumata’s unique ability to calculate the risk of diagnosis for over 800 conditions is a major differential. This vast coverage elucidates the company’s commitment to providing a thorough, all-encompassing service for Life and Health insurance applicants. Such provision eliminates the traditional, time-consuming application process, significantly reducing the barriers to application and thereby improving access to Life and Health insurance.

As Qumata continues to expand and innovate in its niche, the future of the InsurTech industry looks promising. The company’s emphasis on data-driven, digital health risk underwriting paves the way for a new era in insurance. It not only speeds up the underwriting process but also enhances accuracy and offers deep insights. These remarkable feats all contribute to improving customers’ experience, thus revolutionising the overall operation of the industry.

In conclusion, Qumata is at the forefront of digital health risk underwriting innovation in the InsurTech industry. With an unwavering focus on utilising data-led processes to provide a comprehensive and convenient service for Life and Health insurance applicants, the company is poised to lead the charge in the future of InsurTech. To learn more about Qumata, visit their website and follow their updates on Linkedin.