More and more individuals use – be it on purpose or unknowingly – devices that track medical and behavioral data, and the cost of such devices is steadily falling, contributing further to their integration into daily life. Mobile applications devoted to health are available by the tens of thousands and are becoming ever more popular, with some exploring the trend of “gamification”, whereby users are rewarded to reach certain targets, like number of daily steps taken.
Life and annuity insurance companies are seeking any and all means to improve business performance in a time of rapid change. Advancements in data and analytics promise to deliver significant improvements in the speed and reliability of decision-making and offer insurers a competitive advantage.
It has been difficult to attend an underwriting conference over the last two or three years without hearing about ‘wearable technology’, ‘personalized health’, ‘wellness programs’ or similar. Alongside these have been discussions about ‘big data’, ‘predictive modelling’ and ‘predictive analytics’, and the potential uses of alternative data sources in the underwriting process for greater accuracy or efficiency.
There is a huge chasm between the speed to issue a simplified issue policy, compared to a fully underwritten policy. This session will address new processes that have been developed to speed the current fully underwritten policy issue process without needing to go all the way to simplified issue assumptions. The experts will discuss new rapid diagnostic testing protocols offered in alternative test settings and other tools and techniques to improve speed to issue. The experts will also discuss how these processes can help improve the consistency and quality of underwriting evidence and potentially affect both not-taken rates and mortality assumptions.
The goal of this session is to provide attendees with an update on current trends in reinsurance. Reinsurance can provide significant value by improving capital efficiency, risk management and knowledge sharing with clients. This session will enable an attendee to better understand how a reinsurance relationship may assist them in achieving their company's goals.
Non-alcoholic fatty liver disease (NAFLD) was highly prevalent in morbidly obese patients who underwent weight loss surgery even when those patients didn't have metabolic syndrome, according to researchers here.
The number of fatalities caused by heart disease, cancer, stroke, unintentional injuries and diabetes - the five leading causes of death in the US - has fallen, according to a report published in JAMA.
The life insurance industry has relied mostly on the knock-out approach to underwriting preferred risks. When reviewing the thresholds for individual risk criteria, one may ask whether the system is too liberal – i.e., are we admitting too many questionable risks into our best classes? Yet industry experience seems to indicate that the system works well.
Echocardiography was developed during the 1970s and 1980s and allows clinicians to image the heart. The first “M-mode” images were one-dimensional but this was later supplemented with two-dimensional and color Doppler imaging as the technology developed.