Preferred underwriting is simply the aggregation of risk into groupings, according to a set of predetermined criteria representing a certain level of risk. Historically, the insurance industry simply classified individuals as either standard or substandard risks.
This edition of ReFlections offers essential reading on two very timely topics - insurance considerations given the changing status of HIV/AIDS and the use of patient-generated health data. This issue also describes new investigations supported by the Longer Life Foundation, RGA's joint foundation with Washington University School of Medicine in St. Louis.
The latest issue of SCOR’s UK Life Newsletter has been posted. Contents of the latest issue include:
- Solem: What’s new with SCOR’s Underwriting and Claims manual?
- Underwriting and Claims Development Team: Our role in supporting our clients in underwriting and claims excellence
- “To Err is Human:” How should we speak to our claimants?
- Antibiotic Resitance: Is this becoming a Global Crisis?
- General Data Protection Regulation (GDPR): What will it mean for the insurance industry?
This edition of ReFlections contains an in-depth review of the role of genetics in the rapidly changing diagnostic criteria, risk stratification, and treatment of individuals with chronic lymphocytic leukemia (CLL). RGA also discusses the relatively new but increasingly popular Cancer Reimbursement product and its design, underwriting and claims issues. ReCite, a medical literature review section, has articles of interest to both underwriters and medical directors.
In the next decade, genetic tests may become significant and cheap enough that advisers begin suggesting insurance customers test prior to applying for insurance cover. Will consumer behavior change as genetic testing becomes more accessible?
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.