This Heart Month, we examine three contributing factors insurers can consider when reviewing a life insurance applicant’s laboratory and medical history. We also highlight some early research that has been published on what complications COVID-19 may cause to the cardiovascular system.
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.
Blood taken from insurance examinations are subject to many possible influences. Delays in handling, processing, and different atmospheric conditions may causes changes to lab results as opposed to those you would avoid when the labs are processed locally.
The search is on for how to disrupt the underwriting process to find or select the best risks. Can data ever be as good as blood? There is an ever growing number of tools and resources becoming available to insurance companies to underwrite business. The presenters will present some of the tools, data sources, uses and concerns in the underwriting process.
Note: The session above (29) can be found in the 10:30-11:45 a.m. time slot
This popular post from 2012 has been updated with recent research.
This article will explore the past, present, and future of clinical laboratory and biometric testing as they apply to life, disability, and long-term care insurance underwriting.
Slides from Hank’s May 18 Liver Test presentation at the Rocky Mountain Society of Home Office Underwriters.
|Rocky Mtn Assn LIver Tests 2.pdf||520.86 KB|
Life insurers have been using laboratory tests in risk appraisal for over 40 years They began with blood and urine, eventually adding oral fluid (habitually, but incorrectly called ‘saliva’).