Dire diagnosis : COVID-19, the great recession, and the coming underwriting apocalypse

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      <subfield code="b">: COVID-19, the great recession, and the coming underwriting apocalypse</subfield>
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      <subfield code="a">In the past 20 years, two new approaches to life underwriting have been widely embraced by life insurers. We call them super-simplified and accelerated. Both were intended to curry favor with Producers and customers by speeding up the underwriting process while also reducing new business acquisition costs. Super-simplified underwriting enabled insurers to offer substantial amounts of coverage despite fewer application questions and less detailed risk assessments (including no paramedicals or laboratory tests). Higher premium rates compensated for these cutbacks in evidence of insurability.</subfield>
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