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The Evolution of Underwriting – Where are we heading?

June 16, 2016

The Evolution of Underwriting – Where are we heading?

  

ISSUE 3 – DECEMBER 2015
Cecilia Torrejan, AVP and Chief Underwriter, Life Reinsurance

Underwriting, simply put, is the method by which insurance companies assess individual life risks for the likelihood of a claim. Over time, the practice of underwriting has evolved due to market influence, improvements in data gathering, and technology.  In modern times, certain subjective aspects of underwriting are being replaced by computer algorithms and predictive analytics.  Since individual underwriting has been implemented as a means of risk assessment, has the approach to underwriting changed? To determine this, let’s look back at the infancy of the practice to where it is today.

Accident & Health

The Future of Medical Underwriting

August 18, 2014

The Future of Medical Underwriting

Cecilia Torrejon,  AVP and Chief Underwriter

“It took three months for one of my colleagues to get a recent life insurance application approved, two of which were caused by the delay in getting an Attending Physician Statement (APS) from her family doctor.

Physicians, in general, are not overly cooperative with insurance companies as they don’t consider sending reports a priority. This is partially due to the necessity of having to complete the forms ‘on their own time’ even though they are financially compensated for their effort, plus, the view of some as one such doctor advised, “he did not go to medical school for 10 years to fill out silly insurance forms!”

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