Augmented Underwriting and the Evolving Role of the Underwriter: Why Human Expertise Remains Central to the Future of Risk Assessment

The previous article from RGA’s series about the evolving role of the underwriter discussed how the insurance industry and underwriters are incorporating new evidences and alternative data sources into the underwriting process, and how, as a result, underwriters are taking on specialized skills to more effectively and efficiently underwrite new business. Continuing this theme, the following article, the third in the four-part series, discusses how new data and new data sources are being utilized to augment underwriting to build new tools through the power of machine learning and predictive analytics. RGA’s Jeff Heaton, Vice President, Data Scientist, and Michael Hill, Vice President, US Mortality Markets, provide an overview of the current data technology and its potential for the industry, as well as approaches for practically applying these technologies and solutions to augment underwriting programs.

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The previous article from RGA’s series about the evolving role of the underwriter discussed how the insurance industry and underwriters are incorporating new evidences and alternative data sources into the underwriting process, and how, as a result, underwriters are taking on specialized skills to more effectively and efficiently underwrite new business. Continuing this theme, the following article, the third in the four-part series, discusses how new data and new data sources are being utilized to augment underwriting to build new tools through the power of machine learning and predictive analytics. RGA’s Jeff Heaton, Vice President, Data Scientist, and Michael Hill, Vice President, US Mortality Markets, provide an overview of the current data technology and its potential for the industry, as well as approaches for practically applying these technologies and solutions to augment underwriting programs.

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