Data Science And Accelerated Underwriting
Lest anyone think the previous exchange is fanciful or seems a bit paranoid, it is already happening. It is known as using accelerated underwriting using external data and over two dozen U.S. insurers are currently using it.
Modeling Mortality at Older Ages - Benefits and Challenges
When one looks at a curve of the mortality rates by age in developed countries, we notice a very regular pattern. Especially the middle-age groups - age 30 to 70+, for example - seem to have close to an exponential curve in mortality rates.
Impaired Underwriting: Surveillance
While it sounds like something Joe Friday of Dragnet or the FBI would do, medical surveillance involves the following of a condition before deciding whether or when to take a definitive action of treatment. The waiting period can precede a possible surgery, a medical intervention, or an institution of therapy that disrupts the status quo. That’s what surveillance truly is: Waiting and watching before deciding whether to take an action that will disrupt the status quo.
Genetic Testing Put Under the Microscope
Genetic testing is becoming more accessible and commonplace, with new genetic links to diseases regularly being identified. However, the many constraints on the use of predictive genetic tests in insurance means that the easy availability of direct consumer testing is an issue that the industry must consider very carefully.
Stalemate to Checkmate: New Data and Multivariate Methods Transform E-underwriting
The pressure is on for carriers to provide the best customer experience, while implementing consistent, comprehensive and accurate underwriting policies. Advanced e-underwriting systems can help insurers respond.
Medical Advances and Reality Checks for Underwriters
Earlier this year researchers at Heidelberg University Hospital announced the development of a blood test that can detect breast cancer cells in patients - with higher accuracy than mammography.
The Ethics of Algorithms
More and more often, algorithms mediate social processes, business transactions, governmental decisions, and how we perceive, understand, and interact among ourselves and with the environment. Gaps between the design and operation of algorithms and our understanding of their ethical implications can have severe consequences affecting individuals as well as groups and whole societies.
Epigenetics - Technology for Improving the Underwriting Process
Epigenetics is poised to improve the underwriting process, moving beyond deep venous puncture blood collection and a lengthy approval process that takes months to complete.