How Wearables can ‘Transform’ the Public Perception of Insurers
Matthew Edwards, head of mortality and longevity in Willis Towers Watson’s life insurance practice, (pictured below) explains why wearable technology presents a fascinating opportunity for insurers, and related sectors such as the private health sector.
Selfies and Death: Life Insurers Watching as Photos may Predict When You’ll Die
Selfies may be most keenly associated with narcissistic young millennials on social media, but they could soon have very serious implications for a person’s future. A company in North Carolina has claimed it can take people’s selfies and use them to predict their life expectancies.
The Centers for Disease Control and Prevention (CDC) regularly issues news releases regarding current trends in US population mortality. In June of 2016, articles in The Washington Post and The Wall Street Journal cited new CDC data from 2015 which showed a rise in the US mortality rate.
Chronic Myelogenous Leukemia: Survival has Significantly Improved
Advances in the treatment of chronic myelogenous leukemia (CML) since 2001 have resulted in greatly improved survival for this hematologic neoplasm, which earlier was treatable only with palliative measures or through a highly risky hematopoietic cell transplantation.
Once a disastrous disease with markedly shortened life expectancy, hemophilia is now both a treatable as well as insurable disease in most instances. It is important to realize that hemophilia not only comes in many types, but also in many degrees of severity.
Innovation in the Canadian Life Insurance Industry
The Canadian life insurance industry is seeing a wave of innovation across multiple fronts. Evolving customer expectations, shifts in distribution, emerging technologies, big data, and the threat of nontraditional entrants have insurers looking to drastically change the way they do business.
Backed with new capital, powered by digital technology and chained to a decentralized administration: A new model for transparent, simple and customer-focused life insurance, couldn’t be easier to visualize.
Technology and the Workplace of Tomorrow (LOMA Resource)
One of the future challenges facing the life insurance industry is attracting human capital—finding the kind of high-quality employees it will need to be successful in a rapidly changing world. As Baby Boomers retire, companies must recruit, train and develop new generations who think, behave and work differently than past generations.
Our paper, “Cystatin C: A Promising Test for Insurance Screening,” was published in early 2009. At that time, most studies about this test were focused solely on its role as a novel kidney disease marker.
In the interim, several hundred new studies have greatly expand- ed our knowledge about cystatin C in a broad range of contexts. For this reason, a new comprehensive literature review is needed if we are to understand the true underwriting implications of this test.
A presentation at a recent underwriting gathering was billed as being focused on the use of predictive analytics in contexts other than risk appraisal.
Feedback from several attendees suggests it was just the opposite, centered largely on their deployment in underwriting.
So much for the verisimilitude of at least some session descriptions!
Fact is, insurers are presently being inundated with risk screening options no one would have imagined possible a decade ago. The developers of some of these tools are aggressively promoting their deployment in the underwriting process.
Bilirubin is a potent antioxidant and antiinflammatory agent. While bilirubin levels tend to be lower in cigarette smokers, the adverse effects of low/below normal bilirubin impact both smokers and nonsmokers.
High normal/elevated bilirubin has been convincingly linked to a significantly lower risk of circulatory diseases, diabetes and other prevalent medical impairments. Conversely, low normal/below normal bilirubin levels are now a well-established marker for increased risk of these diseases and their complications.
It is a widely held notion that one does not have to know the job to manage people who do the job.
This certainly makes sense for most blue collar and clerical occupations.
Does the same rationale apply to non-underwriters (defined as individuals that have never been underwriters) managing underwriting professionals?
At our study groups, this is recognized as an increasingly important question, in part because the number of individuals with no underwriting background who oversee new business departments is increasing.