Lab results often fit a pattern, since the body’s physiologic system is generally in sync with each of its organ systems. If heart, liver, kidneys or metabolic results are affected, there will generally be a pattern where tests rise in conjunction with each other. Then there are “outliers,” profiles where one test stands front and center out of the normal and without any lab value friends to put it in perspective.
Top life underwriting issues include regulatory concerns, accelerated underwriting, and the opioid epidemic.
There is no single tool capable of defeating insurance fraud. In a wide-ranging paper and guide, RGA shares insights into fraud detection and prevention trends, techniques, and technologies at the RGA Fraud Conference. Insurers must be proactive and prepared to adapt nimbly, to keep pace with fraudsters. Find simple steps all insurers can take here.
Is the recent slowdown of mortality improvement observed amongst the U.S. population also happening in the individual life insurance population, and what are the implications for the future?
Life underwriting professionals are experiencing a paradigm shift in modus operandi, driven by the introduction of automation initiatives. Multiple consulting studies and analyses indicate that automation in underwriting is a valid business need. The coevolution of humans and technology must be supported by business strategies that focus on identifying necessary underwriting skill sets. The convergence of the art of underwriting and the science of technology presents many challenges. Insurers and reinsurers must plan accordingly.
Cognitive testing in life insurance is becoming more and more prevalent, particularly as the number of older age applicants grows. You can expect testing now as a routine at age 70 or older, and although the platform isn’t rigorous, it can derail an application almost irreversibly if performance is poor.
As more countries either partially or fully legalize cannabis for medical or recreational use, underwriters should be aware how changes in legislation may affect disclosures by applicants regarding their use of cannabis. RGA's Hilary Henly explores the considerations.
Cystic fibrosis was rarely encountered by Life and Health underwriters until relatively recently. However, advances in our understanding of this inherited lung disease, and the emergence of more effective treatments, mean that children born with the disease are now surviving into adulthood and living much healthier lives.