Research & Development: Shaping Our Future
October  2017

​The life insurance industry is entering an age of innovation driven by technology and new data sources. Being part of this movement is an important part of SCOR’s mission. We have made a significant investment in research and development so that we can help our clients incorporate these advances into their day to day processes.

SCOR’s R&D efforts focus heavily on two themes: innovations in underwriting and mortality risk analytics, areas of prime importance to our clients as they seek to achieve growth and return objectives. In addition to this, we collaborate with our affiliate ReMark to support R&D efforts in alternative distribution and consumer engagement.

In this issue of SCORviews we highlight a number of projects underway at SCOR.

  • A key initiative is the study of post level term and the relationship between premium increase, persistency and mortality. Actuaries Timothy Roy and Aisling Bradfield
    discuss their work on model development to further our understanding of policyholder behavior at the end of the level period.
  • Another R&D achievement this year is the completion of our first SCOR Mortality
    Insight (SMI) study
    . Under the direction of Mary Bahna-Nolan, EVP and Head of Life R&D, a team of research actuaries studied the mortality experience of 18 companies. Project leads Katherine Warner and Colleen Murray cover highlights of the study.
  • Sharing the R&D spotlight at SCOR is our continuing work to help transform the
    underwriting process and improve the consumer buying experience. Three SCOR
    innovators – Al Mele, Richard De Sousa and Rick Pretty – share views on accelerated underwriting, changing consumer attitudes and behaviors, and the potential of electronic data to replace traditional underwriting requirements.

To augment our R&D initiatives, SCOR and ReMark have become an anchor partner in Plug and Play Tech Center, a technology accelerator for startups and investors. Plug and Plays’ focus on InsurTech is strong affirmation of where things are headed.

As ReMark’s Richard De Sousa states in his interview in this issue, Plug and Play’s attention to life insurance “means the industry is attractive for startups, and real innovation across all sectors of our business is to be expected...It also shows that the industry participants recognize the changing landscape and are aiming to proactively embrace novel solutions either for internal improvements or better customer engagement.”