RGA's Sandeepan Basu provides an overview of the Fourth Universal Definition of Myocardial Infarction. This well-researched article delves into key aspects of the updated definition, explores its complexity, and presents potential implications for the life insurance industry.
Slides from Jenna Fariss’ presentation at the Actuaries’ Club of the Southwest Meeting has been posted.
Facial analytics has the potential to streamline the underwriting process. Some insurers are investigating this new technology.
The term epilepsy denotes any disorder characterized by recurrent, unprovoked seizures. Seizures are disturbances of cerebral function that are electrical discharges in the brain. It may consist of violent shaking, convulsions, absence spells, automatisms (unusual recurrent behaviors), up to loss of consciousness. Epilepsy is quite common and occurs in up to one in every two hundred people.
considered by life insurance underwriters are highly influenced by routine clinical assessments, often undertaken in acute situations following an episode of self-directed violence.
When BE techniques are applied to insurance applications, small changes in the way that questions are designed and worded can lead to more thoughtful completion by the individual.
Insurers seem to be chasing appearances, investing eye-watering sums of money into projects to improve the application process, but these sleek, web-based systems can mask a distressing reality: Underwriting technology underpinning the decision process is not attracting the same attention. RGA's Bruce Bosco calls for a greater emphasis on automated underwriting to improve the customer experience and help bridge the protection gap.
The wider implications of recent advances in genetics and genomics, including polygenic risk scores, need to be considered in the context of the protection industry. RGA's Heather Lund and Richard Russell explore the topic in depth in the Journal of the Association of Insurance Medicine of Japan.