In life insurance

The Power of the Life Insurance Incontestability Clause

Is the Insurance Company Withholding Benefits from You? The incontestability clause in life insurance policies is one of the strongest protections for a policyholder or beneficiary. While many other legal rules for insurance seem to favor the insurance companies, this rule is soundly on the side of the consumer. Remember that life insurance is a form of contract between two parties: the insurance company, and the policyholder. Now, a conventional rule for contracts says that, if one party has given false or incomplete information that the other party relied on when making the contract, then the second party has the right to void, or cancel, the agreement later on. That party can claim that...

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Certificate IV in Life Insurance, Claims

Course overview The FNS41515 Certificate IV in Life Insurance – Claims stream is for people who already work or want to work in the life insurance industry. The Claims stream has been developed for claims assessor and case manager job roles. It includes an introduction to legislation, life insurance products and services, risk, underwriting, claims and the skills to work well with clients. Subject information Upon successful completion of this qualification, students should be able to: apply legislation, regulation and procedures to life claims job roles identify life insurance products and services and who they are suitable for understand the concepts of life risk and...

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Machine Learning Artificial Intelligence in Life Insurance

Machine learning and artificial intelligence are hot topics right now – and for good reason. Machine learning (ML) and artificial intelligence (AI) are unlocking new insights, capabilities, efficiencies, and opportunities across industries and sectors. Life insurance is no exception. Getting a grasp of what it is and how it can impact life insurance is critical to rethink challenges, spot solutions, and adapt in a changing industry. What is Artificial Intelligence? ML and AI are often used interchangeably but they are not the same thing. AI is the development of systems to replicate human intelligence (Forbes). It typically uses algorithms to decide the best course of action. Machine...

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