General Underwriting Topics and Issues

Age and Amount Requirements – Prevalence and Mortality (RGA Reflections)

Submitted by matt on Wed, 08/24/2011

When underwriting life insurance policies, the types of evidence usually requested by insurance companies include medical evidence such as collection of fluids, attending physician’s statement, electrocardiograms, prescription histories, and non-medical evidence such as motor vehicle reports, inspection reports, and possibly several other items. The type of underwriting exam requested will also vary, as underwriting requirements for life insurance policies typically vary by age of the applicant and amount of coverage requested.

Moving Forward: Reflection and Suggestions

Submitted by hankgeorge on Wed, 07/13/2011

In this essay, Hank reflects upon a broad range of issues germane to our profession. These issues include enhancing our profession’s infrastructure and mission statements, growing AHOU membership, rethinking how we define certain member levels, the possibility of an elected AHOU executive committee, questions related to potential conflicts of interest, and several ways in which OTR might be enhanced.

AHOU Today...and Tomorrow

Submitted by hankgeorge on Sun, 11/22/2009

Hank George, FALU, CLU, FLMI
On The Risk • Vol.24 N.4 2008

 

Executive Summary

This essay is one underwriter’s observations regarding aspects of the Association of Home Office Underwriters (AHOU) which may be deemed worthy of rethinking and, if so, perhaps modifying on some basis, now or in the future. A wide range of topics is discussed, with the sole purpose being to offer up thoughts for consideration by AHOU members. The author hopes what is said here will be received in the spirit intended.

Underwriting Engines

Submitted by hankgeorge on Tue, 11/10/2009

Hank George, FALU, CLU, FLMI

 

Just a year ago, one would have had comparatively little incentive to write this commentary…which is perhaps the best way of saying that our underwriting environment is now changing dramatically due to the confluence of a number of factors.

“Faster, cheaper, better” has been the mantra of life insurer senior management for years now where risk appraisal in concerned. This has propelled teleunderwriting into the forefront as our paradigm of choice and also fueled the embrace of rapid-acquisition assets like Rx profiles and MVRs in America.

Rise of the Machines

Submitted by hankgeorge on Sun, 11/01/2009

Hank George, FALU, CLU, FLMI
Best's Review • November, 2009

 

Unlike “Terminator” movies, the machines in question here are the so-called “underwriting engines.” These “straight-through processors” have been around for years. Yet despite smashing success in the United Kingdom and other markets, they have languished in North America.

The Future of Life Underwriting

Submitted by hankgeorge on Wed, 09/23/2009

Hank George, FALU, CLU, FLMI

 

For much of this underwriter’s 30 years of practice, he had to endure being denounced as head of “the sales prevention department” by angry producers who tired of waiting weeks (if not months) for a “thumbs up” on new business.

Those days will soon be gone…forever.

Gone, that is, if life insurers take the plunge and embrace a new model for risk appraisal that radically transforms the process.

The model is known as TELEUNDERWRITING.

Something “Wicked” This Way Comes?

Submitted by hankgeorge on Mon, 12/01/2008

Hank George, FALU, CLU, FLMI
December, 2008

 

Before I delve into this essay, four observations are necessary for perspective.

My apologies to the spirit of Ray Bradbury for appropriating the title of one of his many stellar works of fiction (more than a few of which I confess to having devoured in my youth).

I put quotation marks around “wicked” to emphasize that this loaded word is being used strictly in the figurative sense. I imply no personal criticism of those who may advocate the practice about to be described. The practice itself, on the other hand, has odious implications which, if only in my view, need to be aired out and further debated lest they be embraced prematurely in risk appraisal.

I put a question mark at the end of the title because the status of the matter at issue remains uncertain. Is it already here? Should we expect its landfall soon? Or, does it remain purely theoretical at this writing?

Because of the importance of addressing this phenomenon early on, it is necessary to work off of a number of assumptions. If, as it turns out, some of these assumptions are in error, then perhaps at least a portion of the concern expressed here will be mitigated accordingly.

The Post-Millennial Metamorphosis

Submitted by hankgeorge on Sat, 11/01/2008

Hank George & Tia Goss Sawhney
Contingencies • Nov/Dec 2008

 

The venerable life insurance industry awoke one morning to find itself transformed into a financial services industry. Unfortunately, no one thought to   tell those who stand astride the flow of new premium assuring that the ratio of actual-to-expected mortality remains far less than one. In other  words, underwriting was—and to a great extent still is—out of step with the financial services concept.

A History Lesson in Insurance Screening

Submitted by hankgeorge on Mon, 09/01/2008

Hank George FALU, FLMI, CLU
September 2008
Best's Review

 

It is said that those who do not know history are doomed to repeat it. In the spirit of this truism, a specter looming in underwriting is in dire need of sobering historical perspective.

Once upon a time, a cancer marker that showed initial promise was embraced for use in insurance screening by a prominent carrier.

Not for long.

Nothing to Lose But Chains

Submitted by hankgeorge on Wed, 02/01/2006

Hank George, FALU, CLU, FLMI
Best's Review• February 2006

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