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Milliman Announces Encore Webinar on Practical Uses of Lifestyle-Based Analytics (LBA) in Risk Selection
Date:6/3/2008

SEATTLE, June 3 /PRNewswire/ -- Due to its increasing potential as a tool in health insurance underwriting, Lifestyle-Based Analytics (LBA) continues to receive considerable attention from insurers and the media. We've probably all seen optimistic claims about the use of consumer data as a predictor in the underwriting process. In response, Milliman expert Jonathan Shreve, FSA, offers a fresh perspective on an advance in risk selection and classification through the effective use of Lifestyle-Based Analytics.

Studies and intuition tell us that lifestyle habits and characteristics are linked to disease prevalence. Through the use of consumer data, LBA utilizes lifestyle variables to enhance the risk classification system for relevant conditions. Statistics are then applied to identify correlations between lifestyle information and prevalence of various diseases. This has proven to be extremely effective in differentiating between high-cost and low-cost insurance plan members.

LBA is increasingly viewed as a high-quality advance in the art of risk selection. Within the last decade, the amount and reliability of data collected has grown dramatically. This enhanced data enables LBA researchers to identify risk pools that correlate to certain adverse conditions. It now appears likely that LBA could be used in conjunction with other risk classification tools to produce underwriting results with a meaningfully higher degree of accuracy.

As an early developer of LBA, Milliman has now completed a number of client projects involving its use. Due to a scheduling conflict for the webinar in May, Milliman will conduct an encore free educational Webinar on June 24th, at 2 PM EDT, to share the knowledge gained in the process, and to address both the potential for and limitations of LBA. The seminar will also explore meaningful underwriting applications of LBA. Highlights of the Webinar include:

-- Details of integrating LBA with traditional underwriting,

-- Conceptual evaluation of the methodology involved in building LBA

models, and

-- Further advances in risk selection.

Those interested in attending the Webinar should contact Jon Shreve at jon.shreve@milliman.com. Please include your contact details.

Milliman, whose corporate offices are in Seattle, serves the full spectrum of business, financial, government, and union organizations. Founded in 1947 as Milliman & Robertson, the company has 48 offices in principal cities in the United States and worldwide. Milliman employs more than 2,000 people, including a professional staff of more than 900 qualified consultants and actuaries. The firm has consulting practices in employee benefits, healthcare, life insurance/financial services, and property and casualty insurance. For further information visit http://www.milliman.com.


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