LifeAgain Insurance Solutions, a wholly-owned subsidiary of Cardium Therapeutics, has signed a commercialisation agreement with insurance broker AgencyONE to support the development and marketing of new survivable risk life insurance products.
Under the agreement, LifeAgain's initial product platform will be developed focused on Cardium's BlueMetric Select term life insurance program that has been designed for men with active localised prostate cancer.
Besides, LifeAgain's BlueMetric Select product will be marketed and sold under other trade names through its potential strategic partners in the US and global markets.
In partnership with major life insurers, LifeAgain intends to use its advanced medical data analytics technology to apply medically-driven algorithms and other quantitative tools to support Decision Rule Adaption to widen eligibility for individuals with specific medical conditions.
It will also be used to more deeply assess individualized mortality using the prognostic value of advanced medical diagnostic information.
LifeAgain also intends to use its advanced medical data analytics technology to establish customized policy premium pricing in a cost-effective manner operating within the life insurance industry's actuarial underwriting practices and standard operating procedures.