Morning Briefing: Insurers, scientists team up for ‘death clock’

Morning Briefing: Insurers, scientists team up for ‘death clock’ | Insurance Business America

Morning Briefing: Insurers, scientists team up for ‘death clock’
Insurers, scientists team up for ‘death clock’
Insurers and scientists are working on an algorithm to predict the death of policyholders. Insurance firm Aviva is providing experts for the study by the University of East Anglia in the UK and the four-year project will be funded by the Institute and Faculty of Actuaries.

Using data collected by healthcare providers the aim is to create an accurate measure of key factors in order to help insurers better understand the risks from an ageing population.

“We are particularly interested in understanding how various chronic diseases and their treatments impact life expectancy,” Prof Elena Kulinskaya of the UEA’s computer sciences school told The Telegraph.

The IFoA is funding around U$4 million worth of research studies worldwide including work with University of California Santa Barbara on mortality and morbidity models.
Progressive Insurance to cover Uber drivers
Uber drivers in Texas will be covered by Progressive Insurance from today according to Reuters. Currently the rideshare firm purchases coverage from James River Insurance Company but the pilot scheme could result in a national diversification of the firm’s insurance procurement.

Progressive has recently launched a product aimed at rideshare drivers. James River president Bob Myron told Reuters that the firm expected the move but that it continues to have an “important relationship” with Uber and he is not aware that the firm is diversifying its insurance purchase in other states.
Insurance firm releases April Fool’s Day commercial
It’s April 1 and insurance firm Esurance has released a new commercial offering “election insurance” for those who choose to move to Canada for the four years after the new US president is elected.

Leo Burnett, CEO of Esurance, told that April Fool’s spots are hard to get right but he says this one works as people often say they’ll leave the country if their favored candidate loses.