The Magic of Selfies In Life Insurance
“People think the process is too onerous and the product is too expensive.” That, Legal & General Insurance EVP James Galli told Karen Webster in this week’s TopicTBD discussion, is the perception of getting a life insurance policy.
Half of Life Insurers Using Automated Underwriting
Half of life insurers have some type of automated underwriting solution in place and 41 percent of companies are in the planning process, according to LIMRA research.
What Do InsurTech and Pending Tech Revolutions Mean for the Life Insurance Product?
In just one year, almost $3 billion were invested in InsurTech — in de novo technology and in the brains driving it. RGA's Farron Blanc delves into the causes and consequences of past, present and and pending technology revolutions.
Talent Strategy: Designing a Workforce for the Future of Insurance
Insurance Governance Leadership Network (IGLN) participants recently discussed how global insurance companies are addressing the changing talent landscape and dealing with emerging human capital challenges.
How Life Insurers can sell you a Policy without a Doctor’s Visit
We've all seen the advertisements for life insurance policies with "no medical exam necessary" on TV and the internet. Just answer a few basic questions online, provide access to your credit report and other personal information, and – bingo – you've bought yourself a $500,000 life insurance policy.
Life Carriers take Slow Approach to Digital Transformation
About half of North American life insurance companies operate without a digital strategy, according to new research from Gartner and the Life Office Management Association.
Clinical Laboratory and Biometrics Measures Used to Assess Risk
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.
Accelerated Underwriting: A Transformational Trend
As the life insurance industry continues to look for innovative ways to respond to the changing needs, expectations and buying preferences of 21st century consumers, insurance companies and their reinsurance partners have responded by expanding research and development capabilities. As a key area of research within the industry, cross-functional R&D teams of actuaries, underwriters, data scientists and statisticians are focusing on providing value-added intelligence and advice around the mortality risk implications of using risk scores and new data sources in accelerated and enhanced underwriting programs.
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Impending Death of the Life Insurance Medical Exam
Peeing in a cup, giving blood samples, getting blood pressure checked and stepping on the scale were once unavoidable (and often dreaded) parts of applying for life insurance. But data services and technology are gradually replacing the life insurance medical exam.
Impaired Risk Review: Insurance with HIV
From the initial recognition of HIV virus in 1981, HIV infection has turned from an almost universally fatal infection, to one that could be managed with medication to extend life, to a disease which can be controlled with newer and revolutionary medication therapies. While many companies continue to see the HIV virus as uninsurable, that corner has also been turned, and life insurance in selected cases of treated HIV infection is now possible. Even though the conditions that must be met are numerous and the criteria stringent, applicants with HIV now have the possibility of acceptable insurance offers.