Life insurers need actionable responses to current underwriting challenges – including the need for fluidless Accelerated Underwriting alternatives, while striving to maintain the same level of mortality.
This two-part article aims to review some of the important concepts and considerations for insurers wishing to use data and technology to become a partner rather than just a payer for their policyholders. These include ethical considerations, understanding exactly what data is, the implications of data misuse and of ethical intelligent data use, and the importance of integrating data from various sources, ultimately enabling us to grasp the true potential of data.
This two-part article aims to review some of the important concepts and considerations for insurers wishing to use data and technology to become a partner rather than just a payer for their policyholders. These include ethical considerations, understanding exactly what data is, the implications of data misuse and of ethical intelligent data use, and the importance of integrating data from various sources, ultimately enabling us to grasp the true potential of data.
Medical records are not only a crucial piece of the underwriting process but also one of the costliest in terms of time spent – positioned for transformation through data science and machine learning.
LIMRA worked with the Society of Actuaries and Oliver Wyman to conduct a series of short surveys on the COVID-19 pandemic and its potential effects on the insurance industry.
The importance of AI to the insurance world has grown in tandem with insurers' reliance on data. Hear how AI is impacting the industry.
Undoubtedly, after hours and hours of CNN and network news coverage, we are all “experts” on coronavirus, something we likely knew nothing about entering this new year. How it spreads, what to do to avoid it, how to practice social distancing, sheltering in place—all part of our new vocabulary in this stressful time. Just as it affects our daily lives, it also affects life insurance applications and how we are handling different steps in the process.
COVID-19 has had the biggest short-term effect on life insurance in two ways
Over the last several years, we have seen rapid advances in the technologies that aim to treat people with diabetes.
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