Taking Credit (Best's Review)
The predictive power of credit behavior data can accelerate the underwriting process for life insurers.
Impaired Risk Review: Rage Against the Machine
Increasingly, computer templates are making binding underwriting decisions through information that is programmed in with final decisions virtually unappealable. It’s a frustrating situation that is taking the human element out of a very human situation of health and risk assessment.
Synthesis Analysis - A Robust Statistical Tool for Life Insurance Underwriting and Pricing Research
As life insurers move toward accelerated or low friction underwriting, there is an increased interest in adopting emerging mortality risk prediction scores that are available almost instantaneously.
Life Insurance for the Digital Age: An End-to-End View
This article provides an overview of various innovative solutions supporting an end-to-end underwriting process for life insurance products.
Article appears in Issue 108, November 2017 on page 4
Best Practices & Considerations for Accelerated Underwriting (Slides)
Many companies have or are considering programs that have been referred to as accelerated underwriting. The process by which companies choose to implement this program may not be as accelerated as the name itself. Companies looking to adopt, enhance or evaluate accelerated underwriting should come listen to how some companies think about, evaluate and share lessons learned about designing, implementing and monitoring an accelerated underwriting paradigm, its impact on assumptions and products, and how a reinsurer may review the accelerated program.
Note: The session above (161) can be found in the 8:30-9:45 a.m. time slot
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.
The Outlook for Life Product Development Remains Cloudy
What do life insurance product developers have on their minds? A recent study group gave us some clues.
Barriers to Accelerated Underwriting Beginning to Crumble
Accelerated underwriting began breaking down the remaining barriers to a digital world of life insurance distribution last year thanks to new technologies and services provided by large insurers and start-ups alike, according to a new report.
Life Underwriting In 2017 and Beyond
Insurers’ goals are cost containment, faster turnaround and “customer friendliness” with a mandate for continued robust mortality gains. This article looks at impactful interim developments and critical questions yet to be resolved. It includes data from a 2017 survey of 110 life insurers regarding tobacco, alcohol and drug use underwriting.
Accelerated Underwriting – Get on the Right Track
Seeing the many different projects being pursued by direct companies is one of the most interesting aspects of working in reinsurance. Just recently I’ve noticed how many life carriers are going down the Accelerated Underwriting (AU) route.