Description: The paper describes a cost-benefit analysis to determine the value of electronic health records (EHRs) in life insurance accelerated underwriting programs. Sample cases from a carrier were underwritten pre-EHR and post-EHR and the mortality savings estimates from risk class changes using EHRs was compared to procurement costs. Results were developed to cover a range of scenarios. Factors to consider for carriers evaluating the cost-effectiveness of using EHRs in their own accelerated underwriting programs are also described.

Description: A high-level summary of the results of Munich Re's recent Accelerated Underwriting Survey

Description: Read the August 2020 issue of Product Matters! published by the Product Development Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: Read the February 2020 issue of Product Matters! published by the Product Development Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: Read the April 2020 issue of Product Matters! published by the Product Development Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: This article describes the availability of experience rating within COLI and BOLI programs and compares the effects of including or excluding this feature.

Description: Read the October 2019 issue of Product Matters! published by the Product Development Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: In this article, we discuss the future of wearable technology in life insurance. Evidence from recent research shows that low levels of physical activity, as measured by steps per day indicate much higher mortality risk while higher levels of activity correspond with lower risk. The article shares insights of how insurers can use wearables to innovate by improving the customer journey, expanding insurability, engaging customers, promoting healthy lifestyles and improving risk assessment. Lastly, we discuss the challenges and considerations when using new data and technology to ensure success.

Description: Recently the interest rates have been slowly trending up from the lowest point in August 2020. The focus of this article is on current market trends for long-duration products —including life insurance, annuities, and long-term care insurance —following an extended period of low interest rates, and lessons carriers can learn from similar historical periods of rising interest rates. Innovative and flexible product features will continue to be essential, as the current interest trend may not substantially increase insurers’ portfolio rates. When designing or modifying product features, insurers should consider profitability in a wide breadth of interest rate scenarios and be particularly mindful of the impact that crediting rates and asset durations will have on earnings.

Description: Update on Federal Tax Issues Under the 2001 CSO Mortality Tables