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?