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.
New Tech & Big Data: Are They Good for Insurance?
Richard Keating investigates how big data and new technologies are changing the face of the insurance industry, and examines the resulting threats and opportunities.
Underwriting and Calculators
On our travels we speak to a lot of people about underwriting manual developments. One topic which comes up time and again is calculators: great invention or the work of The Devil?
Cancer Immunotherapy – Is It Really a “Game-Changer”?
Traditionally, cancer is treated by surgery, chemotherapy or radiotherapy. However, some of the most exciting breakthroughs are now being made using another type of treatment called immunotherapy. This treatment is well established in other medical conditions such as rheumatoid arthritis and allergic asthma. Numerous sources now declare immunotherapy to be a “game-changer” in cancer treatment and we will discuss that here.
Underwriting 2.0: Opening Pandora’s Box
This is a recording from a panel discussion at InsureTech Connect 2017, (October 4th), in Las Vegas.
Summary: For years, the life insurance application and underwriting process has been lengthy, complicated and arduous for both agents and the potential insured. As part of the insurance industry’s push for digital transformation, better analytics, more accurate predictive models, and new data sources now provide the opportunity for a streamlined and accelerated life insurance underwriting process without invasive medical exams and hard-to-comprehend applications. Will transformation of the life underwriting process make it easier to purchase life insurance in the short run, or is it akin to opening Pandora’s Box?
SCORviews October 2017 Issue
Articles featured in the October 2017 issue of SCORviews include:
- Modeling Policyholder Behavior
- Innovations in Life Insurance
- SCOR Mortality Insight
Impaired Risk Review: Primary Liver Diseases
Liver diseases can range from mild fatty liver disease to complete decompensation and loss of liver function, Some are acquired by virus, some due to diet and alcohol use, some secondary from other body illnesses, and some are primary arising directly in the liver and bile ducts. Two such primary diseases of a very serious nature are primary sclerosing cholangitis and primary biliary cirrhosis.
The Effect of Treatment Options on Life Insurance Premiums in Patients with Prostate Cancer
Patients with early stage, low risk prostate cancer are typically treated with radical prostatectomy, external beam radiation therapy or active surveillance. We examine how these different management options affect life insurance underwriting practices.