Health Insurers Are Vacuuming Up Details About You — And It Could Raise Your Rates
Without any public scrutiny, insurers and data brokers are predicting your health costs based on data about things like race, marital status, how much TV you watch, whether you pay your bills on time or even buy plus-size clothing.
Unveiling Black Box Models - Interpretability and Trust
In most fields, domain-specific data analysis and generalized linear models (GLMs) have been routinely used to extract insights from the data. The underlying mathematics of such analyses are rather straightforward, and practitioners as well as non-technical project members are experienced in how to interpret the results, and thus are adept at applying them in the context of business.
Life Insurance and the Internet of Thinking
The RNS is not something from science fiction. It is one of a growing number of technologies that combine robotics, artificial intelligence, and connected devices to bring a new level of technological sophistication to the physical world. Such tools will have huge implications for the life insurance industry.
Can Genetic Testing Improve Mortality Risk?
Genetic testing is now available for many disorders. We have known for centuries that heredity is involved in many diseases. However, 15 years ago the Human Genome project was completed, and the sequence of human DNA is now known. This major accomplishment has caused an explosion of new information about genetic diseases, confirming previous suspicions in many diseases and identifying the genetic contribution in others.
Going Beyond Biometrical Underwriting
Either through online application processes and simplified underwriting, or by more advanced data analysis – using, for example, facial recognition – the underwriting process is going to change. What the exact developments will be and how they finally affect our industry is not yet 100% clear.
The Vape Debate
Smoking cessation has been a large contributor to improving mortality over the past few decades and tobacco use, amongst adults and teens, is at an all-time low. However, the trend of vaping and e-cigarettes has exploded. What are the implications for insurers?
Underwriting Update from America (ALUCA RiskeBusiness)
This update is based largely upon findings from our 2018 New Business Critical Issues Survey. It was conducted over a span of six months stating in October 2017. Chief underwriters from 93 insurers offering individually underwritten life insurance participated in this survey.
The Casual Liver Enzyme Elevation
Liver enzyme testing (LFTs) are part of virtually every blood profile obtained on a potential insured. They are also one of the leading causes of a completely unexpected rating or decline on a case. Most clients do not provide a specific history for an elevation, and no broker or agent expects such an outcome with what seemed to be a clean history. Knowing how to approach this situation can be key to a favorable underwriting outcome.