Industry Directions - Our Annual Forecast (LOMA Resource)
Insurance leaders predict what’s ahead for sales and profits, information technology, customer service, human capital—and more.
Insurance of the Future – Where are we Going?
What disruptive forces will insurers need to confront to compete? And what changes are already upon us? A summary of the changes afoot and the transformations ahead, from consumer engagement and underwriting to claims.
Industry Directions: Our Annual Forecast (LOMA Resource)
Life insurance companies continue to recalibrate in the face of new regulations, evolving technologies and customer expectations, and more. Of great concern are new regulations, with the (currently delayed) Department of Labor’s fiduciary rule taking center stage. Another year of low interest rates is placing pressure on profitability. Finally, insurers have no idea how tax reform, on which Congress was working at press time, might affect life insurance and retirement products that currently are tax advantaged.
Genetic Testing Could Cause Anti-selection But Also Have Positive Impact on In-Force Book
Christian Mumenthaler, CEO of Swiss Re, discusses the impact technology may have on longevity risk, and on the life re/insurance industry. Recorded at the 14th Global Ageing Conference in Zurich.
Life Insurance for the Digital Age: An End-to-End View
This article provides an overview of various innovative solutions supporting an end-to-end underwriting process for life insurance products.
Article appears in Issue 108, November 2017 on page 4
Integrated Analytics: The Next Generation in Automated Underwriting
We are experiencing the most rapid evolution our industry has ever seen. Incremental innovation has been underway for the last 10 to 15 years, but currently, the pace of change is truly frenetic. Today, we are competing with not only peer companies, but also start-ups, third-party solution providers and others from outside the life insurance industry, who recognize the potential to disrupt the industry we know so well.
If link below does not work, the article can be found here:
https://www.soa.org/sections/reinsurance/reinsurance-newsletter/ (article appears in Issue 89 on page 38)
Insurers Battle Against Companies ‘Born Digital’
Chat windows, faster policy statements, intuitive agent portals and robotic technologies are among the new generation of weapons insurers intend to use to compete with “born-digital” companies.
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.
The Changing Face of Underwriting
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.