For much of this underwriter’s 30 years of practice, he had to endure being denounced as head of “the sales prevention department” by angry producers who tired of waiting weeks (if not months) for a “thumbs up” on new business.
Those days will soon be gone…forever.
Teleunderwriting embraces multitudes. It is, at the same time, both a technical process that reconfigures day-to-day home office underwriting and a dynamic process that affects every aspect of how we select risks.
Let’s explore the technical aspect first. Teleunderwriting makes extensive use of the telephone as an information gathering resource. One day, the Internet should play an equivalent role…but, for now, the telephone is our focus.
Who is THE ENEMY WITHIN?
“He” has no one name, no essential gender.
What “he” has is the incredibly untimely capacity to rapaciously rob your company of its future…and compelling evidence suggests this is indeed what is coming to pass across the global life and health industry.
This survey was undertaken by sending questionnaires to 55 North American life and health insurers.
Of that group, 45 responded. Not bad.
It is ﬁrmly against my policy to name companies in the context of any survey or to make them identiﬁable in any way based on their responses. Sufﬁce to say that the majority of the TOP TWENTY life carriers are here.
“In the literature, there is still a pervasive lack of recognition between skeletal muscle injury and ALT elevation, which has led to the unsubstantiated conclusion that serum aminotransferase elevations are due to liver injury...”
Rahul A. Nathwani et al.
Division of Gastroenterology and Liver Diseases
University of Southern California School of Medicine Hepatology
As mortality and morbidity underwriting undergoes a much-anticipated metamorphosis to accommodate the demands of the 21st century, the need for fast, reliable and cost-effective screening resources has come into clear focus. The purpose of this paper is to examine the extent to which Rx profiling is one of these resources.
Knowing which pharmaceuticals an insurable applicant is taking has always been a key goal of medical history-taking. It is axiomatic that if we know what Rx an individual is taking, we have keen insight into his medical history. It is an a priori assumption, therefore, that Rx profiling services will serve to enrich our ability to relate pharmaceuticals to medical histories.
In underwriting, we are seeing an increasing number of cases of chronic hepatitis C and nonalcoholic fatty liver disease (especially nonalcoholic steatohepatitis, NASH) wherein the proposed insured has not had a sufﬁcient clinical workup to determine if advanced liver pathology (signiﬁcant ﬁbrosis, cirrhosis) is present.
This is a key determination regarding insurability and the absence of this information has forced us to take uncertain actions…certainly insuring some who are bad risks while postponing others who are insurable.
Hank has written a comprehensive research paper on a new test ideally suited for mortality and morbidity risk screening. It will serve well in tandem with NT-proBNP and other blood tests, as an alternative to treadmill ECGs and other slow, costly requirements we currently use.