Swiss InsurTech dacadoo teams with Daido Life to support new product

Swiss InsurTech company dacadoo has licensed its Risk Engine solution to Japan-based insurance firm Daido Life, for the development of the new product, KENCO+.

This new solution aims to help executives and employees of small and medium-sized businesses in Japan.

dacadoo Risk Engine is based on over 300 million-person-years of data from scientific research. It can process values for almost 90 data points, grouped into four categories: biometrics, diagnosed diseases, family history and modifiable lifestyle behaviours.

From just four data points – height, weight, age and set at birth – the Risk Engine generates a set of relative risk ratios. It also renders 69 individualised imputed values for inputs that are missing.

The relative risk ratios include the risk of a person dying or getting ill from several diseases.

dacadoo stated that for Daido Life, specific discount tables were created by applying actual Daido Life data to the Risk Engine. These resulting discount tables are specifically suitable for Daido Life’s type of clients.

It added that over 30 inputs per life were provided, imputed or varied in the process that enables Daido Life to benefit from the vast amount of recognised health studies that are consolidated in the dacadoo Risk Engine.

Through the Risk Engine estimates, it can derive discount tables that express the risk ratio of ten years of all-cause mortality and three critical illnesses as a function of daily steps taken.

dacadoo president and CEO Peter Ohnemus said, “We are delighted to announce the start of Daido Life’s “KENCO+”. We’re proud to provide the dacadoo Risk Engine to encourage customers to change their lifestyle through healthier habits and, in return, receive discounts towards their premiums. We look forward to collaborating with Daido Life for many more years to come!”

dacadoo recently established a global partnership with Swiss Re. As part of the deal, dacadoo’s Digital Health Engagement Platform will be made available to small and large insurers, and will power Swiss Re’s MywellLife is a mobile-first digital engagement solution.

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