Impaired Risk Life Underwriting: Evolving With The Process
November 8, 2022 by Robert Goldstone
When asked to write on advances in impaired risk underwriting, I began to question the term “advances.” There are no arguments that technologically we have moved far ahead of where we were 10, 20, and 30 years ago. Ease of application has become a true benefit for the potential insured. It is far easier to compare products and nuances in pricing than ever before. Big data has allowed us to factor in so many more variables than we previously could in underwriting. However, in terms of advances, we tend to look toward whether the process and results are better for us as brokers, agents, and insurers. Here, especially in impaired life insurance, the answer is far from clear.