New Tech & Big Data: Are They Good for Insurance?
Richard Keating investigates how big data and new technologies are changing the face of the insurance industry, and examines the resulting threats and opportunities.
Underwriting 2.0: Opening Pandora’s Box
This is a recording from a panel discussion at InsureTech Connect 2017, (October 4th), in Las Vegas.
Summary: For years, the life insurance application and underwriting process has been lengthy, complicated and arduous for both agents and the potential insured. As part of the insurance industry’s push for digital transformation, better analytics, more accurate predictive models, and new data sources now provide the opportunity for a streamlined and accelerated life insurance underwriting process without invasive medical exams and hard-to-comprehend applications. Will transformation of the life underwriting process make it easier to purchase life insurance in the short run, or is it akin to opening Pandora’s Box?
SCORviews October 2017 Issue
Articles featured in the October 2017 issue of SCORviews include:
- Modeling Policyholder Behavior
- Innovations in Life Insurance
- SCOR Mortality Insight
Accelerated Underwriting – Get on the Right Track
Seeing the many different projects being pursued by direct companies is one of the most interesting aspects of working in reinsurance. Just recently I’ve noticed how many life carriers are going down the Accelerated Underwriting (AU) route.
Electronic Health Records: Is Blockchain a Good Fit?
Even though paper records for most medical practices have evolved to digital, all of that data currently resides in silos, where consumers attempt to reconcile data among their providers and health payors. This can be challenging, as there is no single source that identifies where all of an individual’s health data resides, let alone the order in which it was entered.
Look Who's Fighting Our Algorithmic Overlords
A scientist has come up with a way to measure whether an AI is biased.
Digitization in the Insurance Industry - Opportunities for the Application Process
Digitization has spread to every aspect of our personal and professional lives - including, of course, the insurance industry. It affects all sorts of different areas: from interfaces with end-customers and brokers, to wearables like fitness trackers that are supposed to encourage customers to behave in a more self-aware way.
It’s Time to Future-Proof Your Data, Systems and Culture
The long-term prospects of most Life and Health insurers are going to be determined by their ability to transition from a product-based approach to a customer-centric value proposition. But, if they’re going to make that leap, insurers will have to know more about their customers, their behaviors and decision-making processes.
Where Do Life Insurance Products Go Next?
As we look at a world in flux, it’s important to remember that the only constant is change. Technology is a good example, as it has a far-reaching impact on other industries.
Bioelectronic Monitoring and the Future of Underwriting
Advances in bioelectronic technology – and the resulting influx of data – promise to reshape the underwriting process. Preparing today can help insurers capitalize on the opportunities of tomorrow.