Life Underwriting: 2015 and Beyond

To effectively underwrite life insurance policies, insurers must employ leading-edge risk appraisal tools and approaches. Here are some of the latest.

Trends in Medical Data Recording and their Potential Impact on Insurance and Reinsurance

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 Operations: 5 New Rules of the Road

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.

Wearable Technology – a User’s Perspective

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.

John Hancock’s Vitality Program: SVP Brooks Tingle Talks Wearable Devices

Observers of John Hancock’s innovative program have focused on data collection, but Vitality shows how the Internet of Things supports the future of the life insurance customer relationship as a high-touch partnership of shared interest in the policyholder’s well-being.

An Early Look at Wearables for Life & Living Benefits Insurance

“Wearables” are electronic devices worn on the body that generate, store and electronically forward biometric data in real time to smartphones, tablets, laptops or other electronic devices.

The Rise of Wearable Technology – What Does it Mean for the Insurance Market?

Whether it’s measuring fitness, activity, sleep or even stress levels there is a growing market for fitness wearables and sports trackers that has got our industry thinking about whether the data from these devices can be used to underwrite people; effectively rewarding the fittest, healthiest lives by reducing their premiums.

Wearables in Insurance: Balancing Value and Vulnerabilities

We hear a lot about wearables these days … smart watches, glasses, fitness trackers, helmets, and a myriad of other smart devices. These wearables incorporate sensors and chips for data collection, real-time analytics, gamification, and other features. But as the use of wearables increases, so do the concerns about security.

Life Carriers Lag Behind In Customer Tech Support

These days, people can bank through their smartphone, trade stocks online and instantly view their investments – all thanks to the latest Internet and mobile technology.

Unfortunately, the same can’t be said about life insurance.

The Future of Underwriting: A Reinsurer Partner’s View

This interview with Joe Gilmour appears on page 26 in the latest issue of the SOA’s Product Matters newsletter. Also featured in this issue: Underwriting Issues and Innovation (page 17).

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