Why the Future of Life Insurance May Depend on your Online Presence
As the use of algorithms and public data to inform insurance premiums becomes more common, we’ll need to decide what is and isn’t okay
Impaired Risk Review: Multiple Endocrine Neoplasias
Multiple endocrine neoplasias are inherited disorders that include a variety of combinations of endocrine and nonendocrine tumors and affect different endocrine glands. The diseases run in families enough so that genetic counseling is advised when any first degree relative is affected.
Very Risky Business: The Pros and Cons of Insurance Companies Embracing Artificial Intelligence
It’s a new day not very far in the future. You wake up; your wristwatch has recorded how long you’ve slept, and monitored your heartbeat and breathing. You drive to work; car sensors track your speed and braking. You pick up some breakfast on your way, paying electronically; the transaction and the calorie content of your meal are recorded.
Mental Illness Risk
There is plenty of evidence that, generally, mortality is elevated in mental illness. That it should be so in the more severe forms such as schizophrenia and bipolar disorder should be no surprise, but it is interesting to note that even milder conditions may present an extra risk.
Life Insurance Underwriting Picks Up Speed
The marriage between technology and faster underwriting is a union the life insurance industry has encouraged for many years. Progress has been slow, but MIB Group is making headway, recently signing an agreement with Epic to utilize its electronic health records system.
Trends Point to an Accelerated Future for Risk Selection
This final article explores the future of accelerated underwriting in the context of a broader consideration of the future of risk selection in general. It follows some of today’s prominent trends – personalized products, underwriting engagement, and heightened risks and regulations – to their potential long-term outcomes, and concludes with basic steps insurers can take today to help lead the industry of tomorrow.
Time to Embrace Digitization Throughout the Life Underwriting Process
The digitization of the life and health insurance business is happening at breathtaking speed. With that, the policy application and underwriting processes are being brought to the attention of people who used to be less concerned with them - such as actuaries, marketing folks and product managers.
Better Underwriting Decisions are Just a Heartbeat Away
Technological advances in biosensors and increasing amounts of heart rate data from wearable devices and electronic health records are leading to the development of more sophisticated underwriting algorithms. This data, when coupled with robust epidemiological evidence about the prognostic value of heart rate, may improve insurer understanding of cardiovascular risk and ultimately allow underwriters to better predict morbidity and mortality risk.
Don't Forget Your Free Underwriting Tool - The World Wide Web
With advancing technology and evolving underwriting tools, it may be easy to overlook what has now become an “old standard”, the World Wide Web.