Dire diagnosis : COVID-19, the great recession, and the coming underwriting apocalypse
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<title>Dire diagnosis</title>
<subTitle>: COVID-19, the great recession, and the coming underwriting apocalypse</subTitle>
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<abstract displayLabel="Summary">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.</abstract>
<note type="statement of responsibility">Hank George</note>
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<topic>COVID-19</topic>
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<topic>Pandemias</topic>
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<topic>Mercado de seguros</topic>
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<topic>Perspectivas del seguro</topic>
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<topic>Seguro de vida</topic>
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<subject xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080553630">
<topic>Coberturas</topic>
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<title>Contingencies : American Academy of Actuaries</title>
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<publisher>Washington : American Academy of Actuaries, 2019-</publisher>
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<identifier type="local">MAP20190020794</identifier>
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<text>01/09/2020 September-October 2020 , p. 30-38</text>
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