Description: New digital data known as alternative data is everywhere. Our industry has seen the financial, and hi-tech industries leverage new digital data to expand their key offerings and core services. From the lens of the global life and health industry, new digital data is still searching to be further understood. Risk assessment is a current focus area for using alternative data. A key question is even though risk assessment has always been data-driven, can it now move to the next level with the arrival of this alternative data. Can we use alternative data to make the risk assessment process quicker, cheaper, or faster thereby driving more sales and better conversion rates. It is an exciting time! With the increased adoption of health and well-being apps, data such as physical activity, nutrition, sleep, and mental wellness is now readily available. Expanded data such as digital biomarkers, IoT data, electronic health records and many more can also be accessed. However, how to effectively implement alternative data remains a challenge across the industry. We firmly believe it is, and will continue to be, imperative to take a structured approach to alternative data through a set of key considerations and a framework of principles.

Description: As companies implement PBR, this article outlines challenges regarding the treatment of accelerated underwriting under VM-20 and in light of future innovation.

Description: The article focuses on the use of predictive analytics in the development of experience studies, pros and cons of using predictive analytics versus traditional techniques, and the implications for setting assumptions and improving profitability.

Description: NewsDirect article that discusses the benefits of automating the underwriting process. Underwriting speed, the east of case submission and sales support stand out as the most important factors.

Description: This is an article that has excerpts from each of the four winning papers of a contest sponsored by the Society of Actuaries on the subject of visions of the life insurance industry in 2020.