technology

It seems in 2021 that every couple of months I learn about a software solution, new process, or new service that innovates, enhances, and accelerates life insurance underwriting. 
 

When you have deployed an underwriting engine, that is not the end of the journey. Quite the opposite: it is just the beginning.
 

Insurers were already welcoming technology and embracing ideas such as accelerated underwriting. But things move slowly in the insurance world. Then the COVID-19 pandemic hit and insurers no longer controlled those timelines.

Here is an inside look on how life insurance solution providers adapted and innovated to these new challenges in 2020.

With the COVID-19 pandemic, the need for accelerated underwriting (AUW) in a fluidless environment has become urgent. The webinar on “Risk Selection in a Fluidless Environment” explores how we can understand if and when fluid testing is useful or needed in the underwriting process.
 

Munich Re Life US reviewed the LabPiQture™ product from the ExamOne HealthPiQture™ suite as part of a collaborative effort to better understand the value of various medical data sources and tools.
 

The webinar “Medicine and Machine Learning” explores the impact of machine learning on medical practices and how that applies to risk assessment.
 

Munich Re Life US recently evaluated mortality risk scores from the ExamOne HealthPiQture™ suite to assess their impact in segmenting mortality as part of the life insurance underwriting process.

Several underwriting tools have been adopted by carriers to issue coverage faster, in many cases without the need for insurance exams or requirements such as a traditional APS.  Some of these tools are new, while others have been in use previously, but have recently been enhanced to streamline the underwriting process.

Dr. Tom Fletcher, VP Data Analytics, North America Life, shares his perspective on the component strands necessary to build and maintain ethical standards in predictive modeling.