The risk implications of failure to take medication as prescribed are not widely-appreciated by underwriters. To address this issue, Hank wrote a comprehensive paper on insurability issues related to nonadherence. This unique research paper was funded by Milliman Intelliscript.
As mortality and morbidity underwriting undergoes a much-anticipated metamorphosis to accommodate the demands of the 21st century, the need for fast, reliable and cost-effective screening resources has come into clear focus. The purpose of this paper is to examine the extent to which Rx profiling is one of these resources.
Knowing which pharmaceuticals an insurable applicant is taking has always been a key goal of medical history-taking. It is axiomatic that if we know what Rx an individual is taking, we have keen insight into his medical history. It is an a priori assumption, therefore, that Rx profiling services will serve to enrich our ability to relate pharmaceuticals to medical histories.
In February, this underwriter addressed the core concept behind the odd equation Rx = Dx (pharmaceutical information and twenty-first century underwriting) and, in so doing, posited that pharmaceutical information could be effectively employed to facilitate the underwriting process.
Facilitate is a broad term.
How might knowing the exact medication a proposed insured is taking (whether prescribed or purchased over the counter) allow an underwriter to realize his twenty-first century mandate (to speed up the risk selection process) while, at the same time, not forsaking his accountability for mortality results?