accelerated underwriting

As the life insurance industry continues to look for innovative ways to respond to the changing needs, expectations and buying preferences of 21st century consumers, insurance companies and their reinsurance partners have responded by expanding research and development capabilities. As a key area of research within the industry, cross-functional R&D teams of actuaries, underwriters, data scientists and statisticians are focusing on providing value-added intelligence and advice around the mortality risk implications of using risk scores and new data sources in accelerated and enhanced underwriting programs.

Click on "Issue 107, June." Article states on page 10

Peeing in a cup, giving blood samples, getting blood pressure checked and stepping on the scale were once unavoidable (and often dreaded) parts of applying for life insurance. But data services and technology are gradually replacing the life insurance medical exam.

Have you seen the SOA's recently released "Predictive Analytics & Accelerated Underwriting Survey Report"? It is a terrific reminder of what an interesting time it is to be an underwriter, actuary or data scientist in the U.S. life and health insurance industry.

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.

An arm of the National Association of Insurance Commissioners is starting to talk about use of accelerated underwriting in the U.S. life insurance sales process.

A novel hybrid approach to simplified life underwriting has exploded onto the industry landscape. Each passing month finds several more carriers rolling out what has come to be dubbed “accelerated underwriting” (AU).

http://www.contingenciesonline.com/contingenciesonline/november_december...

Information asymmetry risk for simplified issue, accelerated, and full underwriting?

http://www.contingenciesonline.com/contingenciesonline/november_december...

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.

https://www.scor.com/images/stories/pdf/library/SCORviews/SCORviews5-091...

The slides from Brian Boger’s presentation at the Actuaries Club of the Southwest Spring Meeting have been posted online.

http://www.acsw.us/spring16/boger.pdf

Slides from this session, presented at the 2016 SOA Life & Annuity Symposium, have been posted. See Session 47 at the 8:15-9:30 am time slot.

https://www.soa.org/Professional-Development/Event-Calendar/2016/las/Age...