Behavioral Economics may help find a balance between simplification of the underwriting process and the mitigation of risk.
Risk Management (General)
Polygenic risk scores are proving to be a powerful tool in the era of genomic medicine. Their application has grown substantially – from predicting common diseases to enhancing risk modelling for various types of cancers. What does this mean for insurers?
The webinar “Medicine and Machine Learning” explores the impact of machine learning on medical practices and how that applies to risk assessment.
GA has released its 2020 Foreign Risk Study, a comprehensive assessment of the relative mortality risk of 205 countries drawing on data from 2019, prior to the outbreak of COVID-19, and based on weighted rankings across 25 indicators grouped into six broad categories.
Part III in a series of articles on developing underwriting thought processes, this third installment focuses on ways to develop critical thinking skills.
Cultivating an Underwriter’s Competency: The Role of Heuristics and Neutralizing Bias in Critical Thinking
Part II in a series of articles on developing underwriting thought processes, this second installment focuses on potential challenges and shortcomings related to decision-making skills. RGA’s underwriting experts outline strategies to help neutralize heuristics and biases in the underwriting process and become effective in critical thinking.
Munich Re analyzed the effectiveness of daily sleep duration in stratifying the mortality risk profile of a U.S. insured population simulated from National Center for Health Statistics survey data.
Underwriting practices today are a world away from those commonplace 20 years ago, but the biggest evolution is yet to come.
Jennifer Thoreson, R.N., AALU, Executive Director, Underwriting Services, U.S. Mortality Markets, RGA, provides a comprehensive overview of the current state of EHRs, how EHRs now compare with attending physician statements, and the benefits and challenges both bring to risk assessment in ReFlections.
An analysis of cause-specific mortality can shed light on variations in mortality patterns across sub-populations of an individual life insurance portfolio. These insights inform future mortality projections such as mortality improvement assumptions. The complex nature of mortality risk, especially for insured lives that are subject to the rigorous process of life underwriting, poses a challenge in understanding the likelihood of one cause of death over another.