Gen Re has released the results for their 2016 United States Individual Disability Market Survey. Seventeen insurance companies, representing $5 billion of in-force premiums took part in the survey, a summary of the results can be viewed here.
In the United States May is Disability Insurance Awareness Month and Steve Woods, Life/Health Senior Account Executive from Gen Re has written this article to discuss bringing this 'often misunderstood and overlooked product' to consumers attention.
Gen Re conducted a study from 136 life and health insurers in 23 countries to find out how big "big data" is in the industry.
"Regardless of obstacles to overcome, it is apparent that insurance companies are seriously looking at the usefulness of predictive analytics. If plans stay on track, over the next two years the industry is set to experience considerable growth in this area and undergo significant changes. We’re continuing to monitor trends - and are focused on solutions that will help further the successful use of analytics and applications for insurance."
Click here to read the article and view some of the results.
I am both a data nerd and like to keep fit. So a fitness tracker - in my case a Fitbit - was kind of inevitable. I have worn one for about two years, and love it. But apparently the typical duration of use is just three months. Some people tire of them - just like they tire of going to the gym. Some people like the data for a while, and return to using the devices again later. Here is an interesting article from Ross Campbell, from Gen Re's Life/Health Chief Underwriter, Research & Development about how the number of steps taken each day may affect mortality. One day it would be nice if we could use all the health data that already exists - held by our government, and on services such as fitbit - so that we could automate the process of full underwriting.