COI. Regarding your participation at the Life Insurance Challenges 2015, could you please give us some ideas about your speech “Global developments in Life Insurance?”
ADEM. The speech will be around some case studies, all real and recent, that we have seen at RGA. One of our recent success stories involves a predictive underwriting model for Bancassurance – and I will share those interesting results. I will also discuss some of the new Critical Illness products we are seeing in many countries. Some of the new “multi-pay” and “staged CI” models can meet the customers’ needs better than the classic product – and I’ll share what we’ve learned from our experiences.
COI. What are the main actions that RGA International Reinsurance Company Limited has been taken to align new customer trends with product innovation?
ADEM. At RGA, our primary focus is on our customer – providing that customer with world-class client service and expertise. We have a culture of innovation and have long been a leader in developing innovative products, services and solutions that help insurers compete and succeed.
We have pioneered, among many others, such innovations as:
- Automated underwriting for impaired annuities (AURA)
- Motor vehicle records study that enables quantifications of applicants’ risk based on their driving records.
- An automatic selection assessment program (ASAP) which offers instant decisions on routine facultative cases.
RGA is the forefront of product development and often first to introduce new products, as we have done in the areas of Preferred Lives, Cancer CI, Multi-Pay and Staged CI, and Wellness Programs.
COI. Can you tell us three reasons not to miss Life Insurance Challenges 2015?
1) It will be a great opportunity to see things from a different perspective, which is extremely valuable when you are working to innovate.
2) It’s a chance to share best-practices with industry leaders, and learn from their experiences.
3) The international participation will ensure that some idea will likely be new in your context so that you can build upon them in your own reality