April was positive for Life Settlements however Life Insurers continue to struggle. Let's see what the experts had to say;
Amrita LS index noted that in April 2010 there was an unexpected, and quite positive, jump in life settlement transactions over the prior month. The reported numbers climbed an astonishing 92.8 points over March. Amrita indicates that the jump was largely attributed to an increase in market activities and "renewed bullish expectations".
On the flip, Medical Information Bureau (MIB) indicated that individually underwritten life insurance was off -1.4% in April over March. Comparitively, the index has been fluctuating between mild growth and losses since January 2010. Senior life insurance applications continue to reflect growth - with a continued upward trend of +10.5% on applicants aged 60+. MIB indicates that the April numbers are consistent with "seasonal norms".
Have you considered conducting your underwriting and LE business from a different perspective? AUS has been busy incorporating new services from Red Flag Underwriting (exceptional tool for portfolio tracking) to obtaining medical records and pharmaceutical profiles.
Our prices are reasonable and our customer focus is second to none! Give us a call for a full list of our services!
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Wednesday, May 19, 2010
Tuesday, May 11, 2010
A Finger on the Pulse of Mortality
A recent study I happened across indicated a direct correlation of resting pulse rates in cardiac patients with all-cause mortality.
The study indicated that in cardiac patients with resting pulse rates of greater than 70 had a mortality increase of 40% after adjusting for all factors.
Additionally, it was noted that these individuals were also at risk for increase hospitalizations related to acute episodes of congestive heart failure (CHF)-a leading cause of death in the seniors we underwrite every day!
The study indicated that in cardiac patients with resting pulse rates of greater than 70 had a mortality increase of 40% after adjusting for all factors.
Additionally, it was noted that these individuals were also at risk for increase hospitalizations related to acute episodes of congestive heart failure (CHF)-a leading cause of death in the seniors we underwrite every day!
"Among nearly all mammals, life expectancy is close to 1 billion heartbeats"
Michael S. Lauer, MD
National Health, Lung and Blood Institute
Cleveland Clinic Journal of Medicine
76 (2009): S18
"Hanks Hot Notes", Vol. 9 Num. 5, May 2010
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Friday, April 9, 2010
Life Insurance Applications-March Madness!!
MIB (Medical Information Bureau) just released the March index which reflects life insurance application trends (insurance industry in-total) and it had some surprisingly good news. There was an increase in life insurance applications (+2.4%) "year over year" ages combined. Interestingly, compared to prior years, year-over-year growth in March is atypical and has not been seen in over six years.
Applications based upon age reflected lack of growth in ages 0-44, however ages 45-59 were up +4.6% over prior years and there is a continued rise in senior applicants over the age of 60 with an astounding +15.5% year-over-year. This trend in growth in the 60+ market has been seen since April of 2007.
For those of us that focus on senior markets, it is further verification that our focus is not misplaced!
Applications based upon age reflected lack of growth in ages 0-44, however ages 45-59 were up +4.6% over prior years and there is a continued rise in senior applicants over the age of 60 with an astounding +15.5% year-over-year. This trend in growth in the 60+ market has been seen since April of 2007.
For those of us that focus on senior markets, it is further verification that our focus is not misplaced!
Quote of the Day:
Aging is not 'lost youth' but a new stage of opportunity and strength
Betty Friedan (1921-2006)
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Monday, April 5, 2010
What Interviews and RX Profiles Tell You-That Doctors Don't!
Underwriters utilize a number of "tools" during the assessment process of a life insured. These provide a wide array of additional data points and insight that just cannot be gleaned from doctors reports. A number of these tools are unavailable to the Life Settlement (LS) underwriter - however, two of the most valuable tools ARE available however investors often don't know about these tools and they are not readily available by the life expectancy providers in the industry.
Two critical underwriting tools are the telephone interview and the RX profile. Telephone interviews, completed by the experienced underwriter, can provide a tremendous amount of insight into the individuals medical history, compliance with therapy, details on doctor consultations, and most importantly-lifestyle (activities of daily living-ADL) factors. A recent study of 658 seniors noted a direct correlation of lower mortality and morbidity rates associated with a senior engaging in a "hobby". Researchers found that with a simple "hobby" a senior was more likely to have increased ADL scores, lower depression scores, and closer ties to family and friends. Simple, but critical, insight gleaned from a simple conversation with a senior that will rarely be reflected in medical records but can have a tremendous impact in the individuals longevity.
The RX profile is a simple pharmaceutical database check that provides an underwriter with critical data on the individuals medications, the refill history (denoting compliance, or non-compliance, of prescribed therapy), insight into changes in medical history (outlining introduction of new medications or changes in prescribed amounts) and detail on prescribing physicians. A simple check that provides a tremendous amount of information, that reviewed by a trained underwriting professional, can be a powerful tool in assessing ones mortality.
These tools are the "tip of the iceberg" in the benefits that can be gleaned from these sources. The lingering question may be "Why don't all underwriting firms offer these benefits to their customers?". It's this underwriting professionals "humble" underwriting opinion that because some groups do not appreciate the value an underwriter brings to the assessment of an individuals mortality-they disregard all traditional underwriting tools and methodologies-stating that they have no basis in understanding an individuals mortality. Additionally they don't have ready access to obtain these value added products.
AUS, founded and managed by underwriters offers our clients the full value of all underwriting tools available-from medical history interviews by an experienced underwriter to RX profiles to our clients. Traditional life insurance and life settlement clients have full access to our suite of services-including our blog!
Come visit us!
www.advanceduwsolutions.com
www.linkedin.com/in/tddavisaus
http://twitter.com/TraciDavisAUS
Two critical underwriting tools are the telephone interview and the RX profile. Telephone interviews, completed by the experienced underwriter, can provide a tremendous amount of insight into the individuals medical history, compliance with therapy, details on doctor consultations, and most importantly-lifestyle (activities of daily living-ADL) factors. A recent study of 658 seniors noted a direct correlation of lower mortality and morbidity rates associated with a senior engaging in a "hobby". Researchers found that with a simple "hobby" a senior was more likely to have increased ADL scores, lower depression scores, and closer ties to family and friends. Simple, but critical, insight gleaned from a simple conversation with a senior that will rarely be reflected in medical records but can have a tremendous impact in the individuals longevity.
The RX profile is a simple pharmaceutical database check that provides an underwriter with critical data on the individuals medications, the refill history (denoting compliance, or non-compliance, of prescribed therapy), insight into changes in medical history (outlining introduction of new medications or changes in prescribed amounts) and detail on prescribing physicians. A simple check that provides a tremendous amount of information, that reviewed by a trained underwriting professional, can be a powerful tool in assessing ones mortality.
These tools are the "tip of the iceberg" in the benefits that can be gleaned from these sources. The lingering question may be "Why don't all underwriting firms offer these benefits to their customers?". It's this underwriting professionals "humble" underwriting opinion that because some groups do not appreciate the value an underwriter brings to the assessment of an individuals mortality-they disregard all traditional underwriting tools and methodologies-stating that they have no basis in understanding an individuals mortality. Additionally they don't have ready access to obtain these value added products.
AUS, founded and managed by underwriters offers our clients the full value of all underwriting tools available-from medical history interviews by an experienced underwriter to RX profiles to our clients. Traditional life insurance and life settlement clients have full access to our suite of services-including our blog!
Come visit us!
www.advanceduwsolutions.com
www.linkedin.com/in/tddavisaus
http://twitter.com/TraciDavisAUS
Tuesday, March 30, 2010
Fatty Liver Disease-Chewing thru the Fat!
As an underwriter, it is common to review medical records indicating a history of "benign fatty liver disease" - especially in those patients with history of high BMI's that carry the majority of their weight through the mid section. Often times, there will be correlation to mildly elevated liver enzymes in a serum blood draw. In a number of underwriting assessments this finding, absent of any alcohol or hepatitis concerns, is typically treated as a non-debitable situation.
A recent research study has focused on the usefulness of utilizing specific laboratory panels to better identify non-alcoholic fatty liver disease (NAFLD) vs. advanced stage non-alcoholic steatohepatitis (NASH). The latter carrying a much higher rate of mortality impact from increased liver disease complications.
The study conducted on 541 patients in the NIH-funded NASH clinical research network found that there was correlation between specific lab/body habitus and biopsy proven advanced stage NASH. Specific areas of importance included; BMI, AST/ALT ratio, AST/platelet ratio, BARD score (BMI, AST/ALT ratio, diabetes), and cirrhosis discriminant score. Unfortunately, lab tests still are unable to clearly identify advanced NASH cases-but these tests are a step in the right direction for identifying situations that require further evaluation.
This will continue to be a problematic issue for underwriting professionals, especially in light of the increasing obesity issues that will affect increased diagnosis of NAFLD making it difficult to weed out those that are higher risk NASH cases.
A recent research study has focused on the usefulness of utilizing specific laboratory panels to better identify non-alcoholic fatty liver disease (NAFLD) vs. advanced stage non-alcoholic steatohepatitis (NASH). The latter carrying a much higher rate of mortality impact from increased liver disease complications.
The study conducted on 541 patients in the NIH-funded NASH clinical research network found that there was correlation between specific lab/body habitus and biopsy proven advanced stage NASH. Specific areas of importance included; BMI, AST/ALT ratio, AST/platelet ratio, BARD score (BMI, AST/ALT ratio, diabetes), and cirrhosis discriminant score. Unfortunately, lab tests still are unable to clearly identify advanced NASH cases-but these tests are a step in the right direction for identifying situations that require further evaluation.
This will continue to be a problematic issue for underwriting professionals, especially in light of the increasing obesity issues that will affect increased diagnosis of NAFLD making it difficult to weed out those that are higher risk NASH cases.
Wednesday, March 10, 2010
Market Trends-Still struggling to find growth!
Two updated indices that track activity in life insurance and life settlement provided no encouragement for improvement in insurance related markets.
MIB (Medical Information Bureau) released February activity numbers yesterday, and the positive trend we saw in January was no where to be seen in the "flat" numbers reflected last month. The month was noted to be "off" -0.2% - all ages combined. One area that still shows promise for future growth is insurance applications on those over the age of 60-an age group that has historically reflected double digit growth over the past 13 months. February is a lower month of production historically so there is hope that moving into 2nd Q we could see moderate increases.
Amrita's Life Settlement Index also released February numbers reflecting a 73 point decline in transactions over January. The indication is that it is related to the policies in the market outpacing the funding to purchase and tightened provider buying perameters. As an LE provider in the space, the trend of lower production in life insurance seems to mirror life settlement as we have historically noted reduced case flow numbers in the first and early 2nd Q.
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www.advanceduwsolutions.com
www.linkedin.com/in/tddavisaus
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MIB (Medical Information Bureau) released February activity numbers yesterday, and the positive trend we saw in January was no where to be seen in the "flat" numbers reflected last month. The month was noted to be "off" -0.2% - all ages combined. One area that still shows promise for future growth is insurance applications on those over the age of 60-an age group that has historically reflected double digit growth over the past 13 months. February is a lower month of production historically so there is hope that moving into 2nd Q we could see moderate increases.
Amrita's Life Settlement Index also released February numbers reflecting a 73 point decline in transactions over January. The indication is that it is related to the policies in the market outpacing the funding to purchase and tightened provider buying perameters. As an LE provider in the space, the trend of lower production in life insurance seems to mirror life settlement as we have historically noted reduced case flow numbers in the first and early 2nd Q.
Come Visit Us!
www.advanceduwsolutions.com
www.linkedin.com/in/tddavisaus
http://twitter.com/TraciDavisAUS
Tuesday, March 9, 2010
Smoking & Benefits of Reduction?
I recently came across an Israeli study that studied the effects of smoking cessation AND reduction in survivors of acute MI (myocardial infarction-acute heart attack). The focus was on long-term mortality in 1581 patients. Both genders were studied, the mean age of the patients was 54, 19% of those studied were women.
Participants in the study had their first cardiac event between 1992 and 1993 and were followed for more than 10 years. At baseline, 123 participants had never smoked, 70 were former smokers, and 234 were current smokers.
Results of the study indicated that of those that were persistent smokers, but noted to reduce at least 5 cigarettes daily status post MI, there was an associated 18% decline in mortality risk.
Although this was considered a "young" cohort of first time MI patients, it did reinforce a significant benefit smoking cessation, but more surprisingly, the benefit of moderate reduction in smoking.
For many smokers plagued with the challenges of quitting, these benefits of smoking reduction are at least a positive step toward encouraging smokers to make initial "first steps".
Participants in the study had their first cardiac event between 1992 and 1993 and were followed for more than 10 years. At baseline, 123 participants had never smoked, 70 were former smokers, and 234 were current smokers.
Results of the study indicated that of those that were persistent smokers, but noted to reduce at least 5 cigarettes daily status post MI, there was an associated 18% decline in mortality risk.
Although this was considered a "young" cohort of first time MI patients, it did reinforce a significant benefit smoking cessation, but more surprisingly, the benefit of moderate reduction in smoking.
For many smokers plagued with the challenges of quitting, these benefits of smoking reduction are at least a positive step toward encouraging smokers to make initial "first steps".
"It has been my experience that folks who have no vices have very few virtues" Abraham Lincoln (1809-1865)
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