Wired to Underwrite: Artificial Intelligence and Underwriting
Can machines learn? RGA Senior Data Scientist Dr. Dihui Lai thinks so, and he should know. Lai recently unveiled an RGA-developed “AI-Augmented” underwriting system at the Society of Actuaries Predictive Analytics Symposium and took a few moments to explain the results.
Genetic Tests: Are They All Equal?
This article discusses what a genetic test can reveal about us, the variety of genetic tests available and some of the pitfalls we can experience as underwriters, or indeed consumers, of these genetic tests.
Most advisors have heard of Obstructive Sleep Apnea and may even have a client, friend or relative who has it. But many advisors don’t truly understand what Obstructive Sleep Apnea is, the pathophysiology of the condition, or how insurance companies underwrite individuals who have it.
New Trends in Personalized Medicine and Insurance Implications
If the insurance industry is informed about medical advancements, a huge advantage arises for future underwriting with regards to calculating ratings for specific diseases and also creating digital application forms with simplified underwriting.
What Every Advisor Needs To Know About Impaired Risk
A proper handling and understanding of what the client and advisor need to present to underwriting is the difference between success and failure.
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.