Gen Re is pleased to share this summary of key highlights from the U.S. 2023 Individual Life Accelerated Underwriting Survey. Since the inception of the survey in 2021, Gen Re has collaborated with a Steering Committee of interested carriers to review the study framework. Much of the important feedback received during that process is reflected in the content detailed in this comprehensive report.
Fifty-three Individual Life insurance carriers participated in this study. Gen Re recognizes that carriers may be at varying stages of implementation with their Accelerated Underwriting workflow.
Status of Accelerated Underwriting Workflow
Most companies (78%) have either a fully implemented or partially implemented AU workflow. Thirteen percent do not currently utilize an AU workflow, but plan to implement one in the next two years. Five companies reported that they do not currently have, nor do they plan to implement, an AU workflow at this time.
Percentage of Companies That Utilize an AU Workflow