Underwriting engines have been around for over 20 years. Initially they were used in head offices, processing application form information keyed in by clerical staff, and avoiding the need for (expensive) underwriters spending time on the more straightforward cases.
Insurers Dive Into The Digital End Of The Pool. Will It Last?
Insurers were already welcoming technology and embracing ideas such as accelerated underwriting. But things move slowly in the insurance world. Then the COVID-19 pandemic hit and insurers no longer controlled those timelines.
Have you noticed that the word invasive is being bandied about more and more often in underwriting-related articles and commentaries published online and in various industry publications? This is mainly being done by those advocating radical changes in underwriting practices.
The purpose of this paper is to discuss the insurability implications of low normal/ below normal ALT in the elderly… in the hope that insurers will consider adding appropriate guidelines for this finding at older ages.