The CDC published HIV Pre-Exposure Prophylaxis (PrEP) Guidelines for use of Truvada in 2012 and has championed its use as a way to help prevent HIV infections in populations at high risk for sex-related acquisition of the virus.
Insurance agent product hounds had better get ready for the age of “application triage.” The term refers to accelerated underwriting for fully underwritten policies. It’s an underwriting model on the cusp of going mainstream, according to an industry expert.
The “forecasting” issue of Broker World wouldn’t be complete without a look into the future of medical underwriting. Will a person come to our house, swab the inside of our cheek, and be done with the medical end of things? Will we step into a machine that records height, weight, lean body mass and then proceed to CT scan our entire body? And even if they could, would we let them? The sky may be the limit, but we as a government and privacy protective population may not let it get that far.
In December, Prudential Financial began offering 10- and 15-year term life policies to a community that (in the U.S.) had been largely shut out of the life insurance market: people living with HIV. The product rollout stems from an unusual partnership with Aequalis, an independent organization that conducted extensive research into the feasibility of availing the HIV community of life products. LifeHealthPro Senior Editor Warren S. Hersch recently interviewed Mike McFarland, chief underwriting officer of Prudential Individual Life Insurance.
John Hancock Insurance announced today that the John Hancock Vitality solution, a new approach to life insurance that rewards people for healthy living, is now available on its quick-to-issue variable universal life insurance product, Simplified Life.
Your client claims to be in great health and there’s no reason to doubt it. So, why wouldn’t you expect the case to sail through underwriting? In your mind, you’ve already banked the commission… Not so fast. It may not be that simple.
In insurance, there has been gradual acceptance of certain aspects such as digital distribution over the past decade but change, especially in the life sector, has been at the margins only. Customer-centricity is not yet the norm in life insurance: a “one-size-fits-all” approach and a focus on agents rather than consumers is still widespread, limiting consumer choice and product customization.
In present-day life-insurance medical underwriting practice the risk assessment starts with a standard health declaration (SHD). Indication for additional medical screening depends predominantly on age and amount of insured capital. From a medical perspective it is questionable whether there is an association between the level of insured capital and medical risk in terms of mortality. The aim of the study is to examine the prognostic value of parameters from the health declaration and application form on extra mortality based on results from additional medical testing.
According to IBM, 90% of all the data in the world has been created in the past two years. Each of us is utilizing and providing data every time we log in to our computers, browse the Internet or simply drive down the highway with our iPhone in our pocket. The challenge for every industry is how to harness and effectively utilize that data to drive more profitable business.
N Terminal-pro Brain Natriuretic Peptide (NT-pro BNP) is produced by cardiac muscle cells (myocytes) in response to cardiac wall stress and to ischemia as well. NT-pro BNP has been shown to predict all-cause mortality in individuals without history of heart disease. This has been found in both insurance and general populations. It has also been found to improve future cardiovascular risk estimation when considered along with classic cardiovascular risk assessors.
The challenge of generating lifetime income for underprepared retirees, combined with low interest rates that slowed life insurance sales in 2015, were among the top concerns of the financial world in the past year. So it’s no wonder that annuities often dominated the news about innovation in financial products.