by Allison Bell
Assured Allies has an idea about how to make long-term care insurance (LTCI) more sustainable for insurers and better for the insured: Keep the insured healthy.
The Boston-based startup recently attracted $18.3 million in capital for its efforts to use a combination of modern data analysis techniques and knowledge about aging to reduce the odds that those with LTCI will suffer from severe dementia, or from other disabilities that interfere with their ability to handle the activities of daily living.
Roee Nahir and Dr. Afik Gal started Assured Allies in 2018, to make commercial use of a homegrown risk scoring system. The system can help users predict what will happen to people as they age.
Assured Allies is now working with LTCG, a company that runs many insurers’ LTCI programs, to market the Age Assured elder wellness program to LTCI insureds. Assured Allies will work with LTCG to offer program participants case management services, fall prevention support, caregiver training and other support services.
Assured Allies and LTCG are hoping the Age Assured program will improve participants’ quality of life in the short term, reduce the risk of rapid decline, and reduce aging-related costs.
Read the full article on ThinkAdvisor here.