Improving the Customer
Experience with Accelerated
Underwriting

Dianne Schuetz, Vice President, Business Initiatives, RGAx.

When it comes to purchasing life insurance, the demand for an improved customer experience is transforming the underwriting process. Traditional approaches that require testing of bodily fluids are costly for insurers, intrusive for consumers, and time-consuming for both. Accustomed to the digital marketplace, younger consumers in particular demand a faster, easier path to coverage.

Insurers, seeking to simplify the risk-assessment process while still generating enough reliable evidence to issue policies at low retail prices, are turning to accelerated underwriting. Accelerated underwriting applies advanced data analysis methods and new forms of evidence to issue policies without fluid testing. The challenge: Relying on emerging risk-assessment data to replace the conventional information obtained from fluids poses significant risks if not executed properly.


TrueRisk® Life was validated using data from more than 92 million individuals.

RGA, with its superior underwriting expertise, predictive modeling skills, and access to data, is ideally positioned to fill this market need. In 2016, RGA launched Dynamic Risk Selector, a tool that combines extensive application and evidence data, and then applies proprietary underwriting rules and a proprietary predictive model. The Dynamic Risk Selector algorithm improves upon the process of applying underwriting rules to each piece of evidence independently, and thereby accelerates issuance of fully underwritten policies, often without the need for fluid testing.

Dynamic Risk Selector aggregates evidence from a range of valuable data sources, including the exclusive TransUnion TrueRisk® Life credit-based insurance score. This score is highly predictive of longevity and the likelihood the applicant will keep the policy in force. When used in combination with existing underwriting evidence, TrueRisk® Life provides insurers with a more holistic, nuanced picture of each applicant’s risk profile. In 2016, RGA partnered with multiple clients to implement TrueRisk® Life, helping to accelerate the underwriting process and make more – and more competitive – offers to qualified applicants across all risk classes.