People are talking about ChatGPT, the AI-powered chatbot capable of processing mountains of text data, providing detailed responses to questions, and engaging in conversation like a human. We decided to put ChatGPT to the test and to consider the implications this tool and others like it may have for the insurance industry.
Gen Re is pleased to share this summary of key highlights from our 2022 Individual Life Accelerated Underwriting Survey. Thank you to our Steering Committee members who collaborated with Gen Re to review the study framework throughout 2021 and 2022.
Recent announcements in Colorado, Louisiana and New York addressing the use of not only big data but also more traditional “scoring” models signal a continued focus on this area by state insurance regulators.
As the need for mental health services and associated insurance coverage increases, the quest for solutions becomes more urgent. Psychedelics may be part of the solution.
Attention deficit disorder was identified as long ago as 1775, but the concept has only relatively recently entered the public consciousness. Let’s take a look at some common misconceptions and learn more about this often misunderstood diagnosis in regards to underwriting.
Findings from RGA’s 2022 portfolio of surveys can help insurance leaders understand the past and better prepare for 2023 and beyond. Topics range from the continuing impacts of COVID-19, evolving approaches to digitalization, distribution topics, health insurance ecosystems, regional and market specific product development initiatives, and user satisfaction with underwriting and claims manuals.
Football, also known as soccer, is the most popular sport in the world, attracting 50 million players and 3.5 billion fans worldwide. Professional players can earn a tremendous amount of money and fame. But people often forget that they also face significantly high health and life risks - injuries, chronic pains, concussions, mental health, cardiovascular risks, accidents, etc. To mitigate such risks, football clubs and players seek insurance protection. What risk factors should insurers consider when underwriting these athletes?
The emergence of consumer-focused regulations regarding data privacy, the use of big data/artificial intelligence (AI), the use of genetic test results, and the Right to be Forgotten (RTBF), among other factors, challenge the ability of insurers to profile risk and provide differentiated offerings. This article explores this evolving landscape, including trends and outcomes by jurisdiction, and offers suggestions for continued monitoring and engagement.
Tom Fletcher, PartnerRe’s Global Head of Data Science Consulting, discusses the needs for valid, relevant, consistent and fair data – the key to successful model evaluation.