technology

“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 have some type of automated underwriting solution in place and 41 percent of companies are in the planning process, according to LIMRA research.

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.

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.

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.

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.

Click on "Issue 107, June." Article states on page 10

Much is said about blockchain technology, and how it will change how business operates. As with any new technology, a gap exists between understanding the theory and seeing the practical applications. But it should be no surprise that blockchain technology is already being used to secure the digital electronic health record (EHR) of large numbers of people in Europe.

Disruptive innovation are revolutionizing many industries. How will it affect insurance?

Click on "Issue 88, July." Article states on page 20.

Is underwriting like a still photograph, a movie, or virtual reality? Georgio Mosis of RGAx Asia shares a fresh perspective.

Facial analytics may play a key role in calculating future life insurance premiums thanks to a North Carolina technology firm claiming its platform returns lifespan estimates more accurate than traditional methods.