Insurers facing outdated technology, legacy processes, and the industry-wide retirement of experienced underwriters are taking a thorough look at how underwriting works within their businesses. RGA's Dave Rengachary offers a new vision for how RGA can help insurers thrive in the new underwriting ecosystem.
Life and Health Insurance Underwriting is entering a “new normal”. The industry is moving beyond exploring new technologies, such as advanced data analytics and automation, to real-world applications. In this new environment, innovation is not seen as novel but as critical to the success of the insurance enterprise. Insurers are taking tangible steps to fundamentally change the ways that global life and health risks are underwritten.
This two-part article aims to review some of the important concepts and considerations for insurers wishing to use data and technology to become a partner rather than just a payer for their policyholders. These include ethical considerations, understanding exactly what data is, the implications of data misuse and of ethical intelligent data use, and the importance of integrating data from various sources, ultimately enabling us to grasp the true potential of data.
This two-part article aims to review some of the important concepts and considerations for insurers wishing to use data and technology to become a partner rather than just a payer for their policyholders. These include ethical considerations, understanding exactly what data is, the implications of data misuse and of ethical intelligent data use, and the importance of integrating data from various sources, ultimately enabling us to grasp the true potential of data.
Over the last several years, we have seen rapid advances in the technologies that aim to treat people with diabetes.
In a response to the uncertainties COVID-19 has brought to the world, Swiss Re is opening access to its proprietary Life Guide underwriting manual to all life and health insurers for 90 days (from 27 April to 31 July 2020). The offer is designed to help life and health insurers navigate today’s crisis, better understand all risks they underwrite and give them confidence in offering coverage at a time when more people are thinking about life insurance and re-evaluating their financial situations.
Much is still unknown about the 2019 novel coronavirus (SARS-CoV-2). This document, created by Achim Regenauer, Chief Medical Officer PartnerRe, is intended only as a general overview. Opinions expressed are those of the author. Over the coming weeks and months, a much clearer picture of this virus and its impact is likely to emerge. We hope you find this information useful.
RGA's Dan Lyons discusses the rise of a fourth industrial revolution and identifies six strategies insurers are adopting to manage disruptive change.
Some of the articles featured in the September 2019 edition of RGA's Global Medical Newsletter include:
Survival for infected individuals continues to improve as newer, less toxic drugs and simpler one-tablet daily regimens are increasingly available. RGA's Hilary Henly explores what underwriters need to know about HIV in part one of a two part series.