Question

IRU 08607 LIFE AND DISABILITY UNDERWRITNG ASSIGNMENT CASE STUDY INDIVIDUAL ASSIGNMENT ON COVID 19 1. The manual underwriting process for life assurers has been disrupted because of the difficulty to obtain paramedical exams and laboratory reports due to COVID 19. Advise the life assurers on the solutions (at least 10 solutions) 2. After the occurrence of COVID 19 life assurers required to revise mortality assumptions. The ultimate mortality impact of COVID 19 may depend on the timing and effectiveness of vaccine and therapy solutions. Discuss the impact of COVID 19 on claims incurred and cost in relation to an increase in mortality and morbidity rate. 3. During COVID 19 outbreak many economic sector were expected to be affected in large way. Life and health Insurance sector is one among of those sectors that experience impact. Discuss policy measures and intervention that have been taken by different countries such as China, Japan and New Zealand.

Answer 1

Answer 1

The disruption of manbual underwriting process for the life assurer or insurer has been disrupted causing them difficulty in the whole process due to COVID19 outbreak .The steps to be followed in the process is not been properly followed so I will suggest 10 alternative to the life assurer or solution to deal with such diffculties due to COVID9 outbreak. Here are those below :

• In the pandemic situation when there is truly no alternative present for fluid collection and paramed examination , The life assurer should carefully consider telephonic inspection report where they can ask medical question .
• The previous oral fluid sample which include the report of nicotine , APEs and HIV have been completed by any other company which is recent should be considered .
• check the prescription data base with Rx risk scoring
• Ask the individual or the applicant for physicians recent officve released records.
• Routinely visit social media platforms to see the increase in the post by the agents and any agencies which are asking for the carriers names which have temporarliy loosened the requirement of underwriting
• Ask the applicant to provide the electronic health summaries by thier web health portal and carefully authenticate the report .
• consider the electronic signature programs  so that IP adress can be traced to a location when required .
• Mandate the telephone interview as a part of verification process while considering ordering a vendor or carrier
• Take the applicant location in the application and see if the he/she is resideing in foreing country or just visited or had a vacation etc carefully due to covid19
• request the client of good health statements which is to be signed on all policies delivered .