I read the new underwriting guid and watched the 15 min video on the new product. They have 2 level preferred and standard. Here’s the joke of it. Preferred is $25-$40k ages 50-75. How any apps in fe are $25k? Very few . That’s basically worthless now. It looks like cold is standard . But they profiled the new E-App. It looks like added questions and sub questions . It looks like they’re using some type of identity software that also lists potential beneficiarys in the household. I bet in 5 yrs with Ai they’ll be able to pull insureds medical records and make underwriting decision in seconds
RNA insulin and neuropathy will be graded now . As i said no company changes unless they need to
- Thread starter DonP
- Start date
- 4,024
Aren’t some companies already using AI for FE & Med Supp underwriting? I don’t know about medical records, but I’m pretty sure a couple that I use are pulling MIB and Script Check that way. If it’s instant decision and no phone interview, isn’t that usually AI?
- 18,988
I don’t understand where things cross into AI.
But some say they use “intuitive” underwriting and algorithms.
It’s been in our lives for a while.
We shop at Kroger. We use their member card.
We get emailed coupons everyday on the things we buy regularly.
Is big brother watching? Yes!!
Telesales314
Expert
- 73
Think about 40 years from now when current young people are applying.
Client states they never used drugs.
MIB automatically pulls up examples of long-deleted Snapchat/tiktoks showing client smoking weed lol.
Then the client claims its a deepfake and we go in circles.
Client states they never used drugs.
MIB automatically pulls up examples of long-deleted Snapchat/tiktoks showing client smoking weed lol.
Then the client claims its a deepfake and we go in circles.
I agree.
None of this stuff is actual AI. I can get instant decisions even with old, clunky disability insurance companies.
Even medical records can be sourced very quickly with HumanAPI which more carriers are using on the f/u side.
AI will come into play for fully underwritten cases where a decision has to be made. Rules-based underwriting (by computers) has been around for a while and for simple issue products, isn't going to change much.
That sounds like a future problem, not a me problem.Think about 40 years from now when current young people are applying.
Client states they never used drugs.
MIB automatically pulls up examples of long-deleted Snapchat/tiktoks showing client smoking weed lol.
Then the client claims its a deepfake and we go in circles.
What's funny is carriers are already doing this. I just got a decline on a case based on the applicant's current job location (she's a self-employed contractor).
The carrier found out where she works by looking her up on LinkedIn. We didn't hide anything and answered all questions accurately, they just didn't want to cover her based on that info.
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Diabetic neuropathy Trans standard go figure
- 24,978
yup, social media has a long tail.
Glad I am not in the market for any more Life insurance or they would see what an old juvenile I am.
Glad I am not in the market for any more Life insurance or they would see what an old juvenile I am.
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Since when did pole dancers start having LinkedIn accounts?
