Speeding New Business and Underwriting

Insurers are investing heavily in new business and underwriting technologies. Read how having a more uniform platform that can communicate across new business systems can have great results.

Using the Predictive Modeling Process in Underwriting

As part of business analytics, the Predictive Modeling process is a search for explanatory values. It starts with the identification of a problem that needs to be solved: real estate appraisers want to predict selling price; executives want to predict sales; life insurance carriers want to predict mortality.

Exploring the Subconscious and Habits: This is Insurance, Right?

As I shared in my earlier introductory blog, Gen Re is on a journey to explore the influence of biases in the decision making process, especially where it relates to underwriting.

Impaired Risk Review: Hepatitis A

In the letter world of hepatitis, B and C are most well known as causing severe and potentially fatal liver injury. But what about hepatitis A virus (HAV)?

LIMRA Survey of Tech Tools: Use of E-Signatures Expected to Increase

A new LIMRA survey found that 60 percent of insurance companies that sell their products through financial professionals use e-signatures and an additional 20 percent plan to add this tool within a year.

Is Loss of Smell a Harbinger of Death?

A new study has suggested that, for older adults, being unable to identify smells could indicate mortality within 5 years.

Changing Perspectives - Living and Working With Schizophrenia

The number of people who have had an experience of schizophrenia and are applying for life and disability insurance is small. Those that do represent a high-functioning cohort that are too often tarred with the stereotypes of poor outcome and high rates of suicide associated with the diagnosis. Rarely have these people been seen as individuals or had their risk appropriately assessed.

U.S. Life Expectancy Hits Record High of Nearly 79 Years

Average life expectancy in the United States reached an all-time high of 78.8 years in 2012, the U.S. Centers for Disease Control and Prevention reported Wednesday.

Closed Blocks Outsourcing: How Life Insurers Can Reduce Cost and Improve Focus

The life insurance industry has a unique opportunity to outsource its closed blocks of business to support a more efficient cost structure to service the portfolio, to better manage its talent and to enable focus on current and future products.

Heroin Overdose Deaths Doubled in Much of U.S.

Deaths from heroin overdoses doubled from 2010 to 2012, U.S. federal health officials reported Thursday.

Hot Underwriting Issues

This essay dissects four hot issues in life underwriting with notable implications for the brokerage market.

Let's Not Underestimate the Human Element in Underwriting

As modern risk professionals, we pride ourselves on making decisions that are informed by granular risk data, actuarial analysis and complex computer models. Yet, we have discovered that these quantitative elements unfortunately represent only half the decision making process.

Underwriting and Older Age Applicants: Laboratory Testing - What's Adequate?

All life insurance carriers, for fully-underwritten products, utilize laboratory testing as a key component in assessing an individual’s insurability, regardless of age. Most of these protocols were developed when the average age of applicants and the applied for face amounts were lower than they are today.

Insurers Mine Data For Better Underwriting, Deeper Client Relationships

Despite many life insurers taking a “backseat approach” to mining large data sets, carriers can profit from big data by using more advanced underwriting analytics and by deepening the relationship with customers, a new report has found.

2014 Midwestern Underwriting Conference Presentations

Powerpoint slides from selected presentations given at the 2014 Midwestern Underwriting Conference (September 10-12, 2014 in Madison, WI) have been posted at the MUC website. Topics covered include:

  • Credit Reporting
  • Foreign Risk
  • Fraud
  • Gadgets & Kiosks & Apps
  • LTC Underwriting
  • Pelvic Masses: Evaluation of an Adnexal Mass
  • Performance Enhancing Drugs: Athletics, Anti-Aging and Academics
  • Updates in Cerebrovascular Disease with Underwriting Impact
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