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LLM_Engineering_OLD/week5/knowledge-base/contracts/Contract with Evergreen Life Insurance for Lifellm.md
Edward Donner e5c3fcab46 Updated Week 5 with November version
2025-11-04 07:26:42 -05:00

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Contract with Evergreen Life Insurance for Lifellm

Contract Date: January 20, 2025 Contract Number: LF-2025-0012 Parties:

  • Insurellm, Inc.
  • Evergreen Life Insurance Company

Terms

  1. Coverage: Insurellm agrees to provide Evergreen Life Insurance with access to the Lifellm platform, enabling AI-powered life insurance underwriting, policy administration, and risk assessment for individual and group life policies.

  2. Duration: This agreement is effective for a period of 12 months from the contract date, with automatic renewal provisions unless terminated with 30-day written notice.

  3. Payment: Evergreen Life Insurance shall pay a monthly fee of $3,500, due by the 5th of every month for the Starter Tier package.

  4. Policy Volume: Starter Tier supports underwriting and administration for up to 2,000 active policies. Current baseline: 1,400 policies.

  5. Confidentiality: Both parties agree to maintain strict confidentiality of proprietary underwriting models, policyholder health information (PHI), and business strategies.

  6. HIPAA Compliance: Insurellm maintains full HIPAA compliance for all health data processed through the Lifellm platform.

  7. Liability: Insurellm's liability is limited to direct damages not exceeding the total fees paid in the preceding 6 months.

Renewal

Unless either party provides written notice of termination at least 30 days prior to contract expiration, this agreement automatically renews for successive 12-month terms under the same terms, subject to pricing adjustments with 60 days' advance notice (capped at 10% annual increase).

Features

Evergreen Life Insurance will receive the following Starter Tier features:

  1. AI-Powered Underwriting: Accelerated underwriting process analyzing:

    • Medical histories and prescription databases (Milliman IntelliScript)
    • Motor vehicle records (MVRs)
    • Credit-based insurance scores
    • Lifestyle and occupation risk factors
    • Automated underwriting decisions for standard risks

  2. Risk Assessment: AI-driven mortality risk modeling considering:

    • Age, gender, and family medical history
    • Current health conditions and lab values
    • Tobacco and alcohol use
    • High-risk activities and occupations

  3. Automated Policy Management:

    • Digital policy issuance and delivery
    • Beneficiary management and updates
    • Premium calculation and billing integration
    • Coverage adjustments and conversions
    • Policy reinstatement processing

  4. Smart Document Processing: OCR and NLP extraction from:

    • Medical records and attending physician statements (APS)
    • Lab results and paramedical exams
    • Application forms
    • Financial documentation

  5. Customer Portal: Policyholder self-service portal featuring:

    • Policy document access
    • Beneficiary updates
    • Premium payment processing
    • Coverage summary and statements
    • Digital insurance cards

  6. Regulatory Compliance: Built-in compliance monitoring for:

    • State insurance regulations
    • NAIC model laws and regulations
    • Anti-money laundering (AML) requirements
    • Policy form approvals

  7. Basic Analytics: Standard dashboards tracking:

    • Application submission and approval rates
    • Average underwriting cycle time
    • Policy persistency and lapse rates
    • Face amount in force

Support

Insurellm commits to providing comprehensive support to Evergreen Life Insurance:

  1. Onboarding: 2-week implementation program including:

    • System configuration and setup
    • Training for up to 8 underwriters and administrators
    • Integration with Evergreen's policy administration system
    • Data migration from legacy system (up to 1,400 policies)

  2. Technical Support:

    • Email and phone support Monday-Friday 8 AM - 6 PM EST
    • Response time: 12 hours for critical issues, 24 hours for standard
    • Online ticketing system for issue tracking
    • Knowledge base and FAQ access

  3. Platform Updates:

    • Quarterly feature releases
    • Monthly security patches and improvements
    • Advance notice of updates (minimum 14 days)
    • Release notes and user documentation

  4. Account Management:

    • Named customer success manager
    • Semi-annual business review meetings
    • Usage analytics and optimization recommendations
    • Assistance with tier upgrade when volume grows

  5. Compliance Support:

    • Annual compliance review and audit support
    • Regulatory update notifications
    • State insurance department filing assistance

Signatures:

Michael Torres Title: Chief Revenue Officer Insurellm, Inc. Date: January 20, 2025

Catherine Wu Title: Chief Underwriting Officer Evergreen Life Insurance Company Date: January 20, 2025

This agreement enables Evergreen Life Insurance to modernize their life insurance operations with AI-powered underwriting and administration technology.

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