Protective Value Studies at the Speed of Logic
To start, what is a “protective value study” anyway? In its simplest form it is a determination of whether a test or tool provides (mortality) benefit in the underwriting process. The output of the study can range from a qualitative “yes” to a detailed quantitative breakdown of mortality impact by age, gender or other relevant variables.
Predictive Analytics in Life Insurance: How to Get Real Results
RGA shares basic steps insurers can take to prevent overfitting for more accurate predictive models.
What is the Future of Financial Underwriting in an Accelerating Market?
Are you ready to purchase a policy with a fingerprint? Apply through a smart television? Walk through a check-out scanner and walk out qualified for coverage?
Smart Technology Works for Older People, Too
While wearables and apps are most closely associated with promoting physical fitness, technology is increasingly being put to use in lifestyle monitoring of the elderly and others in need of care.
Life Underwriting Trends to Watch
The practice of life underwriting is undergoing a lot of change as insurers look to speed up and enhance the customer experience. Big data, artificial intelligence, pharmacy records, accelerated underwriting and more are playing a part.
Emerging Underwriting Methodologies and their Impact on Mortality Experience Delphi Study
The Society of Actuaries sponsored a Delphi study to gather expert viewpoints regarding emerging underwriting methodologies and their impact on future mortality experience.
Impaired Risk Review: What You Don't Know WILL Hurt You
One of the toughest situations for an underwriter is the case that seems to have literally fallen off the cliff. A condition that is significant, that is being followed, and that does have mortality consequences suddenly has no notes of any recency for six months or more. Follow-up that appeared to be favorable virtually disappears, and the underwriter is left with guessing that things have continued to go reasonably well. Or not...
Milliman Risk Score 2.0 – Stratifying Mortality Risk Using Prescription Drug Information
Munich Re assessed the Milliman Rx Risk Score, a predictive modeling tool developed and owned by Milliman that assesses mortality risk using an individual’s prescription drug information. Insurers considering prescription- drug-based scores should begin with a retrospective validation study on their own experience data.
Alcohol Risk in Perspective
The publication by The Lancet recently of an article discussing the risk to health posed by alcohol seems to have put paid for all time to the notion that moderate drinking does no harm or is even ‘good for you’. It has thus caused a bit of a stir in some quarters.
White Paper: Wearable Technology in Life Insurance
For insurers to effectively utilize wearable technology, it is important to understand the metrics captured by devices. Insurers must also be mindful of regulations, set reasonable expectations, and balance the risk and rewards of new developments.This white paper summarizes the considerations.