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Today's Key Question:
Did you know that the Accelerated Underwriting we have today to expedite life insurance applications, us driven by AI and Big Data?
See the article below from JD Supra.
"5 Changes for Business Leaders to Consider Going Forward"
* As business leaders, we have entered into an entirely new reality: The ongoing pandemic has forced many to reevaluate how we currently operate traditionally entrenched industries and working models. Many companies are still reacting to this “new abnormal” and have not taken the time to evaluate the strategic impact and address if or how they may need to pivot their current company trajectory. More than ever, business leaders have a clear and present obligation to reevaluate their organization from stem to stern with a critical eye towards longevity and financial success.
One of the opportunities presented in moments such as this is how we can focus on and catalyze strategies that may have been brewing in the background for years. Times of immense change can also be a tremendous motivator to galvanize your business stakeholders to action around bold new initiatives. Before considering any such drastic changes, however, you need to consider five key questions that will serve to guide you and your company through this time of change.
"Caribbean Thrive as the Best for Citizenship by Investment, New 2020 CBI Index Finds"
* "By blocking international travel, the Covid-19 pandemic has had the effect of reminding investors and the wider world of the fundamental importance of 'home'," the researcher explains. "Home and citizenship are closely intertwined, as only citizenship can give certainty that a person will be able to settle somewhere indefinitely. […] And, as the CBI Index highlights, there are few options for citizenship that are as expeditious and straightforward as citizenship by investment."
"Removing regulatory barriers has helped hospitals save lives during the pandemic"
* How could waiving these laws dramatically improve the health of sick patients? Because certificate of need laws make healthcare less accessible for patients. They require healthcare providers looking to build a new facility or add new services to prove to a government board that the community needs these additional services.
When a potential new competitor applies to build a new facility, established hospitals routinely lobby the board to reject the application, arguing the community doesn’t need additional healthcare options. In some states, the CEOs of incumbent hospitals sit on these boards.
Proponents of these laws argue that communities need them to limit new competitors from entering the market in order to keep existing providers financially stable. But the reality is that the laws simply reduce the number of facilities available to meet the healthcare needs of patients.
"Topsy-Turvy World of Accelerated Underwriting and Artificial Intelligence"
* As accelerated underwriting (AU) and artificial intelligence (AI) begin to turn life underwriting upside down, several NAIC working groups are seeking to bring order to the disruption: the Big Data (EX) Working Group (“Big Data WG”), the Innovation and Technology (EX) Task Force (“Innovation TF”), the Accelerated Underwriting (A) Working Group (“AU WG”), and the Artificial Intelligence (EX) Working Group (“AI WG”). Discussed below are some of the key questions they have been considering that potentially have major implications for consumers and the insurance industry.
Here's a short video from Steve on how you can purchase insurance in these changing times....Watch Here