The Post-Millennial Metamorphosis

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.