Life

The Explosion in Accelerated Underwriting

A novel hybrid approach to simplified life underwriting has exploded onto the industry landscape. Each passing month finds several more carriers rolling out what has come to be dubbed “accelerated underwriting” (AU).

The Revolution in Impaired Risk Underwriting

Impaired risk underwriting isn’t what it used to be. Advances in medical technology, big data, and information sharing are transforming it from a 1970 Plymouth into tomorrow’s Tesla.

LexisNexis Shifts Life Insurance Underwriting into High Gear

Company is betting that data analytics will prove transformative to the market.

Financial Underwriting - Is It Really Life or Death?

Most of the information I see written about financial underwriting seems to focus on different types of financial planning strategies, whether it be for business, personal or family.

Applicant Medical and Smoking History Nondisclosure in the Life Insurance Marketplace

Information asymmetry risk for simplified issue, accelerated, and full underwriting?

Faster, Better, Cheaper

As we all know, the cost of most life insurance products is based on the risk of dying: policies for males, older individuals and those having health impairments are priced higher than for younger, healthier individuals.

Have Electronic Applications Come of Age?

My first experience with an electronic application was in 2002. I was working with a major credit card company who included a flyer along with the billing statement that provided information about how to apply on-line for their term life insurance product. We didn't know how many applications to expect; but based on the wide distribution, we planned on a high number.

Dispelling Myths of the "Sweet Spot"

After spending 17 years working at life insurance carriers assessing large face amounts, the opportunity to move to the field presented itself and I jumped at the chance. The one observation that has been consistent can be narrowed down to one phrase.

Harnessing the Power of Digital: Are Life Insurers up to the Task?

It's long been understood that life insurers have lagged other sectors in digitizing their business processes and directing money to new technologies to try to gain a competitive edge. The only question is, how much have they underinvested?

The Nuances of Specialty-Risk Underwriting

The practice of underwriting insurance is a fine mixture of art and science. To be successful, it takes a lot of common sense, even more experience and a well-rounded team of experts. Time and practice are the true keys to the profitable underwriting of life, health and disability insurances. As you can probably imagine, factors such as age, gender, occupation risk, financial viability and adverse health history play significant roles in the underwriting of most insurance. But other, less obvious factors come into play when working in the specialty-risk side of the life and health marketplace.

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