The Challenges for Life Insurance Underwriting Caused by Changes in Demography and Digitalisation

Ilona Kwiecień (), Patrycja Kowalczyk-Rólczyńska () and Michał Popielas ()
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Ilona Kwiecień: Wroclaw University of Economics and Business
Patrycja Kowalczyk-Rólczyńska: Wroclaw University of Economics and Business
Michał Popielas: Wroclaw University of Economics and Business

Chapter Chapter 10 in Life Insurance in Europe, 2020, pp 147-163 from Springer

Abstract: Abstract Underwriting is a vital stage in the life insurance process and involves accepting individuals into an insurance fund on particular terms. The purpose of this chapter is to provide an overview of the underwriting development and its associated processes since the nineteenth century to the present and analyse contemporary challenges facing underwriting in life insurance. The focus will be on the two critical trends: demographic changes and the associated longevity risk, where a new generation of buyers need to be assessed; digitalisation and new technologies have created extraordinary possibilities for obtaining and analysing data. Based on questionnaire research, the discussion is illustrated by an analysis of attitudes towards sharing information with the insurance company through the use of new technologies that monitor health and lifestyles, which among others indicate that the level of acceptance regarding sharing data with the insurance company is low.

Keywords: Underwriting; Digitalisation; Pay as you live; Demography (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:spr:fimchp:978-3-030-49655-5_10

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DOI: 10.1007/978-3-030-49655-5_10

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