June 16, 2016
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.