Description: The Reinsurance Section, Product Development Section and the Committee on Life Insurance Research are pleased to present results from a company practice survey of individual life insurance accelerated underwriting. Performed by a Milliman team led by Al Klein and Karen Rudolph, the study provides perspectives from both direct life insurance companies and reinsurers. Among the areas addressed include the structure of accelerated underwriting programs, how programs are monitored, how accelerated underwritten business is performing relative to expectations and how companies are considering accelerated underwriting cohorts in the context of VM-20 assumption setting.

Description: The rapid economic development of Asia has ushered in profound lifestyle changes, particularly in urban centers. Increased disposable income, urbanization, and the proliferation of convenient food services have contributed to dietary habits associated with elevated health risks. Among these, insulin resistance (IR)—a metabolic condition linked to diabetes, hypertension, and cardiovascular diseases—has emerged as a critical yet underrecognized threat. IR is also strongly associated with an increased risk of dementia, particularly Alzheimer's disease and vascular dementia. For life and health insurers operating in markets such as Greater China and Southeast Asia, traditional underwriting methods face significant challenges in accurately assessing these evolving risks. This article investigates the limitations of conventional approaches and explores the potential of continuous underwriting methodologies to better align risk assessment with dynamic lifestyle factors.

Description: The life insurance industry has experienced dramatic changes since the onset of COVID-19 in March 2020. Growing competition, a rise in online shopping, and the impact of COVID-19 have all led to an increase in contactless and completely digitized life insurance options. At Policygenius, we wanted to dig deeper into these big industry changes and better understand how they affect life insurance buyers. What our 2022 life insurance trend report found was a changing industry, making tremendous strides, and creating even better pricing and policy options for customers.

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: There are many ways to actively utilize BE approaches – and implementing these important tools can help insurers in many ways.