LifeScore Labs Launches MyLifeScore360
February 5, 2019
an online experience aimed at empowering consumers to better understand
their individual insurance risks before applying for life insurance,
LifeScore Labs, the risk-scoring insurtech subsidiary of Massachusetts
Mutual Life Insurance Company (MassMutual), launched MyLifeScore360.
MyLifeScore360 is a free online risk scoring tool that provides insights
to how an insurance carrier may measure their risk, by answering 10
simple questions on such characteristics as age, height, weight and
smoking-status, among others. Based on their answers, consumers will be
provided with a score between 1-100 (with 100 being the best), as well
as a report on the factors that contributed to the score, which will
enable them to better understand and interpret how their risk profile
may impact their life insurance risk. The user’s data, score and report
are anonymous and are not shared with other life insurance companies or
Consumers, if they wish, also have the option to explore products
aligned to their needs.
“Purchasing a life insurance policy can be one of the most important
decisions a person can make,” says Sears Merritt, Head of LifeScore Labs
and MassMutual’s Head of Data Science & Analytics. “As an industry, we
can make underwriting more understandable for everyone if both consumers
and insurers can use a standard risk score when making buying and
is an abbreviated consumer-focused version of the LifeScore360 product.
LifeScore360, which launched in 2018, is a secure, cloud-based mortality
risk model that enables life insurers to upload 48 de-identified data
points to receive a LifeScore360 score. The score is designed to help
insurers more transparently and accurately assess mortality risk.
Importantly, MyLifeScore360 also furthers LifeScore Labs’ vision for its
scoring system to become an industry standard, enabling both consumers
and businesses to evaluate risk through a single metric. LifeScore Labs
anticipates releasing disability income and accelerated mortality risk
models in 2019.