Impaired Risk Review: All Cancers Aren't Created Equal
It sounds a bit flippant, yet it is a request that medical directors and underwriters see quite often. An informal application or quick quote comes in with a request about “history of brain tumor.” Or maybe a question of pancreatic cancer. The underwriter is expected to make an educated guess based on these minimal findings. All tumors truly aren’t created equal, and people have individualized responses to different abnormalities. The more information supplied the better chance there is for not only a placeable but a sustainable quote.
Cystatin C: Transforming Cognitive and Frailty Screening
Many of today’s older-age evaluations include additional screenings to measure cognitive and frailty risks: clock drawing, delayed word recall and walking speed. These assessments may add time to the application process and increased cost for the insurer. However, recent studies indicate they could be replaced with a simple blood test: Cystatin C.
Why Life Insurance Companies want your Fitbit Data
Customers can withhold their fitness data, but that will result in higher premiums, which may put life insurance out of reach for low-income earners. This in turn could have an impact on whether would-be homeowners can take out mortgages, some of which can require a life insurance policy on the principle borrower.
Evolution of the Role of the Predictive Modeler
As data mushrooms, models become more complex, roles become more specialized, and terminology becomes more confusing (and over-hyped) – we need to be honest with ourselves, honest with stakeholders and not allow hubris in our models to displace common sense.
Protective Value Studies at the Speed of Logic
To start, what is a “protective value study” anyway? In its simplest form it is a determination of whether a test or tool provides (mortality) benefit in the underwriting process. The output of the study can range from a qualitative “yes” to a detailed quantitative breakdown of mortality impact by age, gender or other relevant variables.
Predictive Analytics in Life Insurance: How to Get Real Results
RGA shares basic steps insurers can take to prevent overfitting for more accurate predictive models.
What is the Future of Financial Underwriting in an Accelerating Market?
Are you ready to purchase a policy with a fingerprint? Apply through a smart television? Walk through a check-out scanner and walk out qualified for coverage?