- New partnership leverages PREADISAN™, the cutting-edge health prediction platform using machine learning and modern proteomics
- Applies novel big data analytics tools to the Abacus portfolio of services
- Lorisco's risk scores will enable a more personalized approach to longevity and actuarial technology to maximize value for Abacus’ clients
ORLANDO, Fla and NEW YORK, Aug. 19, 2024 (GLOBE NEWSWIRE) --
Abacus Life, Inc. (“Abacus”) (NASDAQ: ABL), a pioneering alternative asset manager specializing in longevity and actuarial technology, and Lorisco Life LLC (“Lorisco”), a health prediction company using modern proteomics and machine learning to accurately forecast health events, today announced a new partnership and product launch to revolutionize longevity-based health prediction and actuarial technology.
The Lorisco PREADISAN™ risk score is a novel assessment and planning tool that generates individualized insights beyond traditional statistics-based life expectancy opinions. The PREADISAN™ risk score introduces blood-based proteomic biomarker analysis coupled with clinically driven artificial intelligence (AI) models that assess mortality risks. The PREADISAN™ risk score is a first of its kind tool that integrates biological insights with the assessment of mortality risk over time.
Abacus continues to develop and shape the future of technology in life settlements, longevity and actuarial technology. This partnership provides customized financial offerings for users based on Lorisco’s cutting-edge health prediction platform. Abacus’ leading capabilities are further enhanced with the launch of PREADISAN™, a risk score forecasting longevity and health outcomes with unprecedented personalization. Lorisco’s proprietary machine learning algorithms use health risk models that incorporate modern proteomic markers on top of traditional actuarial factors, together enabling Abacus to offer bespoke solutions tailored to the client.
“We are proud to be partnering with Abacus Life to enable how health predictions are customized for end users through proteomics and machine learning,” said Howard Sams, Lorisco Life Chief Executive Officer. “The PREADISAN™ risk score enables the Abacus team to offer an unprecedented level of tailored solutions for their clients.”
“We are proud to enable a more personalized approach to longevity and actuarial technology for our partners and clients,” stated Jay Jackson, Abacus Chairman and Chief Executive Officer. “PREADISAN™ forecasts will further aid the focus of longevity and health in the future of financial planning and life settlements.”
Abacus will apply the risk scores to life and financial planning to design better financial products and allocations to their clients. Clients will also obtain more customized retirement planning and risk management insights from Abacus.
About Abacus Life, Inc. (www.Abacuslife.com)
Abacus is a leading global alternative asset manager and market maker that specializes in the use of advanced longevity and actuarial technology to purchase life insurance policies from consumers seeking liquidity, while creating a high-returning asset class of insurance products, uncorrelated to market fluctuations, for institutional investors. With more than $2 billion in assets under management, Abacus is the only publicly traded licensed life policy origination company and asset manager.
The company’s pioneering experience in the life planning space has created growth into new verticals. The longevity-based wealth management service and investment offerings, called ABL Wealth, uses Abacus’ decades of data and proprietary algorithms to help financial advisors create more customized plans for clients and access to uncorrelated investment funds. The ground-breaking technology service, called ABL Tech, provides advanced real-time data tracking and analysis for pensions funds, governments, insurance companies, retirement associations and more. With each new channel, Abacus is revolutionizing the future of life insurance.
About Lorisco Life, LLC (www.Lorisco.life)
Lorisco is empowering a healthier future by providing accessible, customized risk scores for longevity and chronic disease at scale using proteomics and predictive modeling. The proprietary machine learning algorithms of Lorisco use statistical models of health risk that incorporate traditional factors and modern proteomic markers. Using a common platform, Lorisco is launching businesses that leverage its algorithms in financial services. Lorisco is a subsidiary of Health Outlook Corp. The lab used for Lorisco’s PREADISANTM risk score is a clinical laboratory certified under the Clinical Laboratory Improvement Amendments of 1988 (CLIA). The results of the PREADISAN™ risk score should only be used for informational purposes. The results are not intended to diagnose or treat any medical condition and do not constitute medical advice.
Forward-Looking Statements
All statements in this press release (and oral statements made regarding the subjects of this press release) other than historical facts are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors that could cause actual results to differ materially from such statements, many of which are outside the control of Abacus. Forward-looking information includes but is not limited to statements regarding: Abacus’s financial and operational outlook; Abacus’s operational and financial strategies, including planned growth initiatives and the benefits thereof, Abacus’s ability to successfully effect those strategies, and the expected results therefrom. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “expect,” “intend,” “anticipate,” “goals,” “prospects,” “will,” “would,” “will continue,” “will likely result,” and similar expressions (including the negative versions of such words or expressions).
While Abacus believes that the assumptions concerning future events are reasonable, it cautions that there are inherent difficulties in predicting certain important factors that could impact the future performance or results of its business. The factors that could cause results to differ materially from those indicated by such forward-looking statements include, but are not limited to: the fact that Abacus’s loss reserves are based on estimates and may be inadequate to cover its actual losses; the failure to properly price Abacus’s insurance policies; the geographic concentration of Abacus’s business; the cyclical nature of Abacus’s industry; the impact of regulation on Abacus’s business; the effects of competition on Abacus’s business; the failure of Abacus’s relationships with independent agencies; the failure to meet Abacus’s investment objectives; the inability to raise capital on favorable terms or at all; the effects of acts of terrorism; and the effectiveness of Abacus’s control environment, including the identification of control deficiencies.
These forward-looking statements are also affected by the risk factors, forward-looking statements and challenges and uncertainties set forth in documents filed by Abacus with the U.S. Securities and Exchange Commission from time to time, including the Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and subsequent periodic reports. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Abacus cautions you not to place undue reliance on the forward-looking statements contained in this press release. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Abacus assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Abacus does not give any assurance that it will achieve its expectations.
Contacts:
Abacus Life Investor Relations
investors@abacuslife.com
Abacus Life Public Relations
press@abacuslife.com
Lorisco Life Public Relations
contact@lorisco.life
