Predictive Analytics and Accelerated Underwriting Survey Report
The Predictive Analytics & Accelerated Underwriting Survey Subcommittee of the Society’s Committee on Life Insurance Mortality and Underwriting Surveys has completed its report on the results of a survey designed to obtain feedback on several current hot topics in the industry, namely predictive analytics, accelerated underwriting and enhanced underwriting. This survey was sent to US and Canadian direct life insurance companies.
Predictive Analytics Global Survey Results - Still Room to Grow for Life & Health Insurers
How big is “big data” for life and health insurers? What are insurers worldwide focused on when it comes to predictive analytics? How are they adopting it and what are their expectations for the future? We set out to find answers to these questions through our global predictive analytics survey just released to participants this month.
2017 Perspective: The Insurance Industry’s Growing World of Data
Data. Those of us in the insurance industry have always collected data, had access to it, and analyzed it to the best of our abilities. But the amount we are collecting, where it’s coming from, and the way that we collect and manage it, has catapulted us into a whole new stratosphere over recent years. In this new world of harvesting data from an ever-growing number of categories of data and the types of devices generating it, we must focus on the trends that are transforming our industry, and come up with a formula to analyze and make the data actionable for our business.
Big Data, Big Insight – Is Knowledge Still Power in a Digital World?
This article explores the validity of claims that theory has lost its practical purpose in a world where the abundance, and easy availability, of data is purported to provide sufficient guidance to our actions. In a future Risk Insights article we will consider the possible consequences for the life insurance industry with a particular eye on the future role of human expert knowledge
Capturing the Millennial Middle Market with Smart Analytics
By integrating data and advanced analytics into their processes, life insurers can capture one or more lucrative niches, including millennials in the middle market, before the competition does.
New Report Finds Health Wearable Devices Pose New Consumer and Privacy Risks
Personal health wearable devices used to monitor heart rates, sleep patterns, calories, and even stress levels raise new privacy and security risks, according to a report released today by researchers at American University and the Center for Digital Democracy.
The Revolution in Impaired Risk Underwriting
Insurers have developed mathematical algorithms to determine where they can speed up the underwriting process
LexisNexis Shifts Life Insurance Underwriting into High Gear
Company is betting that data analytics will prove transformative to the market.
Accelerated Underwriting Opportunities: New Data Sources, Technology Improve Process
Opportunities for point of sale underwriting are increasing as new data sources become available and processing techniques are developed. Risk scores are being analyzed by SCOR’s R&D Center for impacts to underwriting and mortality assessment.
From Insurance to Surveillance: Experts Debate Privacy in the Age of Big Data
Big Data is scary. That's the one thing that four people from very different professions agreed on during a panel at a Kenyon College political-science conference about technology's impact on privacy in the 21st century.