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Innovations In Underwriting: A Path to the Future
April  2019

Underwriting, more than other functional areas, has come to epitomize the need for life insurers to modernize operations to meet changing customer expectations and avoid the risk of disruption from outside the industry. Given the availability of data sources, new health assessment technology, predictive analytics and so on, underwriting is an obvious place to invest in innovation. Life insurers are doing that, and SCOR is committed to supporting these efforts wherever we can.

Underwriting expertise and innovation are essential components of our full-service approach to life reinsurance. We place a high priority on working with clients to advance efficiencies in traditional underwriting and develop next generation underwriting. 

This past year we forged ties with innovators in data solutions, health and wellness platforms and health risk profiling. Through these investments and partnerships, we can share insights with clients about the potential of new technologies to improve underwriting and better manage inforce business. We also can connect clients with new players and help in the execution of pilot programs and R&D initiatives.

This is an exciting time to be involved in underwriting. Like underwriters throughout the industry, the team at SCOR is working in a variety of ways to demonstrate how their profession is moving life insurance into the future. In this issue of SCORviews, members of our Underwriting Research area share learnings…

Cindy Mitchell and Peter Komsthoeft recap various underwriting systems and programs in use today and clarify confusing and often misused terminology for automated underwriting, accelerated underwriting, simplified issue and predictive modeling.

Maria Beaulieu provides an overview of the current state of electronic health records in life insurance.

Also in this issue, Bruce Miller addresses the expert judgement process and how SCOR applies expert judgement to help in our assessment of mortality improvement trends. And rounding out the issue, Dr. James Kadouch, who recently delivered a SCORcast life insurance webinar on Broken Heart Syndrome, follows up with an article on the topic. 

We look forward to joining clients and other industry colleagues in New Orleans for the annual conference of the Association of Home Office Underwriters. I’m sure this year’s agenda will drive home the reality that our industry – and underwriting in particular – is undergoing a major and much anticipated transformation.