SCORacle UK Life Newsletter Issue 7

Welcome to the 7th edition of SCORacle, which contains some variation to the usual Underwriting and Claims focus and includes articles by 3 young students that spent some time with SCOR in the summer to provide their views of our industry. This provides a fascinating insight into the thoughts of our consumers of the future. In addition, we also have some interesting information from our Consultant Cardiologist on two commonly seen conditions that from an underwriting perspective we should keep an eye on and for our readers who are Claims assessors, we include some information relating to changes to death certification.

Five Myths and Facts about Artificial Intelligence (SOA)

Artificial intelligence (AI) is splashed throughout the headlines these days. AI recently beat the human Go champion, autonomous cars can drive themselves, social bots can mimic human interactions and converse with others in social networks, and AI totally manages some hedge funds.

Three Essentials for True Automated Underwriting Success

Almost a decade ago Life Insurers in the Australian market entered the search for greater efficiencies and faster assessment turnaround times believed to be possible via the mechanism of automated underwriting. Having closely observed the UK market, in particular, leading retail Australian insurers moved quickly to embrace automated underwriting.

Big Data, Big Insight – Is Knowledge Still Power in a Digital World?

This article explores the validity of claims that theory has lost its practical purpose in a world where the abundance, and easy availability, of data is purported to provide sufficient guidance to our actions. In a future Risk Insights article we will consider the possible consequences for the life insurance industry with a particular eye on the future role of human expert knowledge.

Fukoku Mutual Life Replaces Office Workers with Artificial Intelligence

Insurance firm Fukoku Mutual Life Insurance is making 34 employees redundant and replacing them with IBM’s Watson Explorer AI

Capturing the Millennial Middle Market with Smart Analytics

By integrating data and advanced analytics into their processes, life insurers can capture one or more lucrative niches, including millennials in the middle market, before the competition does.

New Report Finds Health Wearable Devices Pose New Consumer and Privacy Risks

Personal health wearable devices used to monitor heart rates, sleep patterns, calories, and even stress levels raise new privacy and security risks, according to a report released today by researchers at American University and the Center for Digital Democracy.

Priorities for Innovation, Automation and Transformation

In 2016 our industry went from one that was slow to adopt emerging technologies to one that is well on its way toward digital transformation. With increasing disruption in the form of innovation and new market entrants, we’ve moved more quickly toward progress than any time in history.

NU Panelists Explore Innovations in Underwriting

What will the insurance underwriter's job look like in three or five years?

The Revolution in Impaired Risk Underwriting

Insurers have developed mathematical algorithms to determine where they can speed up the underwriting process

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