Life Underwriting in 2019
Top life underwriting issues include regulatory concerns, accelerated underwriting, and the opioid epidemic.
Art or Science? Cultivating the Next Generation of Underwriting Talent Holds the Key
Life underwriting professionals are experiencing a paradigm shift in modus operandi, driven by the introduction of automation initiatives. Multiple consulting studies and analyses indicate that automation in underwriting is a valid business need. The coevolution of humans and technology must be supported by business strategies that focus on identifying necessary underwriting skill sets. The convergence of the art of underwriting and the science of technology presents many challenges. Insurers and reinsurers must plan accordingly.
Underwriting Marijuana Risk: A New Era
As more countries either partially or fully legalize cannabis for medical or recreational use, underwriters should be aware how changes in legislation may affect disclosures by applicants regarding their use of cannabis. RGA's Hilary Henly explores the considerations.
Why It’s Time to Re-evaluate Cystic Fibrosis
Cystic fibrosis was rarely encountered by Life and Health underwriters until relatively recently. However, advances in our understanding of this inherited lung disease, and the emergence of more effective treatments, mean that children born with the disease are now surviving into adulthood and living much healthier lives.
The HIV/AIDS Epidemic – What’s New (Part I)
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.
Polygenic Risk Scores: Quantifying the Inheritability of Common Diseases
Significant and rapid progress in genetics research and data analytics is currently enabling an unprecedented expansion in science’s understanding of the genetic underpinnings of rare and common diseases. Large-scale cohort studies such as the UK Biobank are helping scientists build powerful prognostic models for a number of diseases, including breast cancer and coronary artery disease, and hastening the development of a new tool for quantifying the inheritability of common diseases: Polygenic risk scores.
Data Science And Accelerated Underwriting
Lest anyone think the previous exchange is fanciful or seems a bit paranoid, it is already happening. It is known as using accelerated underwriting using external data and over two dozen U.S. insurers are currently using it.
Impaired Underwriting: Surveillance
While it sounds like something Joe Friday of Dragnet or the FBI would do, medical surveillance involves the following of a condition before deciding whether or when to take a definitive action of treatment. The waiting period can precede a possible surgery, a medical intervention, or an institution of therapy that disrupts the status quo. That’s what surveillance truly is: Waiting and watching before deciding whether to take an action that will disrupt the status quo.
Genetic Testing Put Under the Microscope
Genetic testing is becoming more accessible and commonplace, with new genetic links to diseases regularly being identified. However, the many constraints on the use of predictive genetic tests in insurance means that the easy availability of direct consumer testing is an issue that the industry must consider very carefully.