Abacus Life and Lorisco Life Announce Launch of PREADISAN™ to Improve Health Predictions
19 August 2024 - 2:00PM
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 StatementsAll 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 Relationspress@abacuslife.com
Lorisco Life Public Relationscontact@lorisco.life
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