Understanding how misrepresentation can effect our business and highlighting the tools we can employ to address this issue.
Underwriters and Claims personnel of all levels and those looking for a better understanding of this issue.
SCOR's Underwriting and Claims Development Managers, Catherine Lyons and Gill Salton discuss the results of SCOR's global misrepresentation survey conducted in 2021, with insights focused on the UK and Irish markets. We will discuss the following:
- Types of monitoring that companies are conducting
- The results
- How much misrepresentation is found on applications for life cover
- What are the top medical conditions misrepresented
- Details of how the results are used by insurers to reduce the levels of misrepresentation in the portfolios
- The financial benefits to carrying out misrepresentation monitoring