Hannover Re to distribute Neurotrack’s digital tools to fight dementia
Redwood City-based brain health company Neurotrack announced its partnership with Hannover Re US to offer its cognitive health program to the life insurance market for use by their policyholders. The partnership follows Neurotrack’s rollout with Japanese life insurers SOMPO Himawari Life and Dai-ichi Life, which offer Neurotrack’s digital cognitive assessment to policyholders as part of their dementia insurance offering.
Founded in 2012, Neurotrack, a team of ~43, has raised over $50 million across 8 rounds of funding. It is backed by SOMPO Holdings and Dai-ichi Life.
“Leveraging a tool like Neurotrack will ensure that new policies continue to be processed during the COVID-19 pandemic. In addition, using Neurotrack will continue to benefit life insurance carriers well into the future by expediting the underwriting process and giving individuals the ability to measure and manage their own cognitive health.” – Kevin Oldani, SVP and chief underwriter, Hannover Re US.
“We established ‘Insurhealth’ to integrate insurance and health services. Since the partnership with Neurotrack began in 2018, we have been introducing their technology to our dementia insurance policyholders to help them become more active in assessing and strengthening their cognitive health. The engagement from younger policyholders has been impressive and supports our mission to use this innovative approach to reduce dementia in Japan, improving the health of the population and decreasing the costs caused by the illness.” – Yuko Nakagawa, executive officer and general manager of Business Planning at SOMPO Himawari Life.
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“We are incredibly pleased to continue to grow our partnership with Hannover Re. They are an industry-leading innovator. Their risk management expertise and agile underwriting support have given us the tools we need to both delight the modern consumer and support sustainable innovation.” - CEO and Co-Founder of Ladder, Jamie Hale.