Probabilistic and statistical modeling have long been central to life insurers’ efforts to responsibly manage and accurately price risk. However, over the past two decades, technological advances have transformed these businesses’ use of data and algorithms.
Incidence of skin cancer is on the increase, affecting all aspects of insurance, including underwriting and claims.
COVID-19 has put new underwriting strategies through a brutal test.
As the insurance industry adapts to shifting market conditions, some roles will likely need to be transformed as well. Learn how insurers could multiply value creation by modernizing the underwriting function now.
Decades of research have demonstrated how individual health conditions and behaviors impact morbidity and mortality. When underwriting life and health insurance, however, determining how multiple wellness and lifestyle rating factors and comorbidities interact and affect one another remains challenging.
Barrett’s esophagus is a relatively common condition in which normal esophageal tissue (which is squamous cell epithelium) is replaced by columnar metaplasia. Up to five percent of people here in the United States will develop this condition but most alarmingly, another five percent may go on to develop esophageal adenocarcinoma. Since cancer of the esophagus has a very poor prognosis, recognition of this condition and early treatment is of paramount importance.
Supplementing traditional insurance data with different types of third-party data can provide deeper insights to improve the underwriting process, enhance operational efficiency, and gain a better understanding of historical mortality, morbidity, and lapsation experience. Realizing the potential of third-party data integration requires appropriate evaluations, both analytical and actuarial.
This edition of Underwriting Focus discusses the characteristics of Gen‑Z, gives an insight in the work life of the young crowd, and introduces two insurance companies which have bridged the gap between Gen‑Z expectations and insurance customer onboarding.
The convergence of big data, electronic health records, machine learning and human expertise is modernizing the life insurance process – in measured steps.
Demographic changes, growth in world travel and migration, increased contact with animal vectors via habitat encroachment and wildlife trade, and global warming are all contributing to increased incidence of new and emerging infectious diseases. RGA's Hilary Henly, Global Medical Researcher, provides an overview of this new era of infectious diseases.