Verisk enters Egypt health insurance market via AXA deal

AXA Life Insurance Egypt has selected Verisk’s Health Risk Rating Tool and Ratings Engine to access substandard risk posed by pre-existing medical conditions, according an announcement on Monday.

This agreement marks the first time Verisk, a global data analytics and technology provider for insurers, provides a product or service to Egypt’s insurance market, the announcement added.

The new feature has vastly improved AXA’s Intelligent Medical Acceptance Tool (IMPACT) accessibility and efficiency in providing bespoke health insurance products to a wider demographic of customers, said Laurent Pochat-Cottilloux, CEO of AXA Life.

It is worth mentioning that the deal builds on an existing business relationship between Verisk and AXA Life & Health Reinsurance, with AXA using Verisk’s Health Risk Rating Tool in China, Vietnam and the Philippines.