Incorporate Third Party Scoring in Accelerated Underwriting (Slides)
The slides from a presentation by Guizhou Hu, M.D. Ph.D., Vice President Chief Decision Analytics Officer (Gen Re) have been posted at the Actuaries' Club of the Southwest website.
Tools and Data in the Underwriting Process (Slides)
The search is on for how to disrupt the underwriting process to find or select the best risks. Can data ever be as good as blood? There is an ever growing number of tools and resources becoming available to insurance companies to underwrite business. The presenters will present some of the tools, data sources, uses and concerns in the underwriting process.
Note: The session above (29) can be found in the 10:30-11:45 a.m. time slot
Industry Survey Insights: The Impact of Tobacco, Alcohol, and Drug Use on Anti-Selection
A recently commissioned study by Hank George, Inc. surveyed 110 direct-writing U.S. and Canadian life insurance carriers on fully underwritten businesses. The survey covered a variety of tobacco, alcohol, and drug use topics*. ExamOne asked consultant and former risk management director at Allstate Financial, Eric Hjerpe, to outline and expand upon some of the findings and trends he extracted from the survey results.
Genetic Testing and the Power of Knowledge
Genetic information is treated exceptionally carefully but the growing use of predictive tests by consumers raises concern that the results could influence their approach to life insurance.
The Rising Tide of Genetic Data – New Challenges for Life & Health Insurance
The understanding and application of genetic data is redefining medical diagnosis, treatment and prognosis. As this area continues to advance, it’s set to adjust, maybe even to reshape, the Life and Health insurance business model within the next 20 years.
Heroin – the Other Opioid
Currently heroin, cocaine, marijuana, prescription medications — specifically prescription opioids — and alcohol are recognized as the chief forms of substance abuse in our society. In this white paper, we continue our series examining the opioid epidemic and its significance for the life insurance industry.
Genetics – a Testing Time for Insurers?
This paper looks at the broader future implications of genetic testing for society, medical professionals and the insurance industry
Impaired Risk Review: Predictive Analytics
For those of you fortunate enough to have seen the classic 1967 Academy Award nominated film, “The Graduate,” a line of advice on the future given to Dustin Hoffman’s character is still a classic. “I want to say one word to you... Just one word... Plastics...” Nowadays, in the field of life insurance underwriting, that might be expanded to two words: “Predictive analytics.” If you haven’t heard the term it will certainly become part of the underwriting experience in the upcoming years.
Underwriting and Calculators
On our travels we speak to a lot of people about underwriting manual developments. One topic which comes up time and again is calculators: great invention or the work of The Devil?
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?