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Small Changes, Big Impact - How Behavioral Economics Can Improve Life Insurance Application Medical Condition Disclosures
By Heidi Alpren May 20, 2019 English
Small changes can sometimes have a big impact. This is particularly true in the realm of Behavioral Economics. At its core, Behavioral Economics (BE) challenges the traditional economic theory that individuals are sound and rational (“slow”) thinkers,...
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To Be or Not to Be Digital - That Is the Question in Australia and New Zealand
By Rob Frank Apr 16, 2019 English
Life and Health insurers in Australia and New Zealand are ready to take their next big step in using Behavioural Economics (BE) to improve loss duration. BE is about increasing interactions with customers and trying to encourage changes in behaviour,...
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Thinking About the Cognitive Bias of Loss Aversion in Underwriting
By John Thiel Nov 29, 2017 English
On the surface it may seem redundant to think that underwriters are averse to loss. After all, our job is to make sure the policies we write for our respective companies earn more in premium than the claims and expense dollars that are paid. Yet, the...
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Accelerated Underwriting – Get on The Right Track
By Keith Brown Sep 20, 2017 English
Seeing the many different projects being pursued by direct companies is one of the most interesting aspects of working in reinsurance. Just recently I’ve noticed how many life carriers are going down the Accelerated Underwriting (AU) route. It’s not surprising:...
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