Life Insurance for the Digital Age: An End-to-End View
This article provides an overview of various innovative solutions supporting an end-to-end underwriting process for life insurance products.
Article appears in Issue 108, November 2017 on page 4
Best Practices & Considerations for Accelerated Underwriting (Slides)
Many companies have or are considering programs that have been referred to as accelerated underwriting. The process by which companies choose to implement this program may not be as accelerated as the name itself. Companies looking to adopt, enhance or evaluate accelerated underwriting should come listen to how some companies think about, evaluate and share lessons learned about designing, implementing and monitoring an accelerated underwriting paradigm, its impact on assumptions and products, and how a reinsurer may review the accelerated program.
Note: The session above (161) can be found in the 8:30-9:45 a.m. time slot
Incorporate Third Party Scoring in Accelerated Underwriting (Slides)
The slides from a presentation by Guizhou Hu, M.D. Ph.D., Vice President Chief Decision Analytics Officer (Gen Re) have been posted at the Actuaries' Club of the Southwest website.
The Outlook for Life Product Development Remains Cloudy
What do life insurance product developers have on their minds? A recent study group gave us some clues.
Barriers to Accelerated Underwriting Beginning to Crumble
Accelerated underwriting began breaking down the remaining barriers to a digital world of life insurance distribution last year thanks to new technologies and services provided by large insurers and start-ups alike, according to a new report.
Life Underwriting In 2017 and Beyond
Insurers’ goals are cost containment, faster turnaround and “customer friendliness” with a mandate for continued robust mortality gains. This article looks at impactful interim developments and critical questions yet to be resolved. It includes data from a 2017 survey of 110 life insurers regarding tobacco, alcohol and drug use underwriting.
Accelerated Underwriting – Get on the Right Track
Seeing the many different projects being pursued by direct companies is one of the most interesting aspects of working in reinsurance. Just recently I’ve noticed how many life carriers are going down the Accelerated Underwriting (AU) route.
How Well Does Accelerated Life Underwriting Really Work?
An NAIC task force has proposed an experience reporting update.
The Magic of Selfies In Life Insurance
“People think the process is too onerous and the product is too expensive.” That, Legal & General Insurance EVP James Galli told Karen Webster in this week’s TopicTBD discussion, is the perception of getting a life insurance policy.
How Life Insurers can sell you a Policy without a Doctor’s Visit
We've all seen the advertisements for life insurance policies with "no medical exam necessary" on TV and the internet. Just answer a few basic questions online, provide access to your credit report and other personal information, and – bingo – you've bought yourself a $500,000 life insurance policy.