Future $hock
The Insurance Industry and the Curing of the Unsolved Mystery Diseases
by
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Marketing Considerations - Changing Social Conditions
On the good side of living longer and healthier, parents will live to see their children, grandchildren, and even their great grandchildren grow up. For the insurer, this means that if you gain a parent as a customer, you have the opportunity to gain the next few generations as well. Insurers would do well to begin planning and offering insurance in "Family Plans," geared specifically to gaining the entire family as a customer unit. A life insurance package, sold as a package, for a family of four would be an example of this type of insurance product.
Actuarial Considerations - Invalid Information
The current and predicted disease rate of immigrants, for example, will become crucial in risk analysis. So, international health issues, such as mystery disease rates in each of the various countries of the world, will become increasingly important for American insurance companies. And actuaries will hold a great deal of the responsibility for ensuring that their company has prompt, accurate and complete decision-making information.
Underwriting Considerations - Infinite Expenses
Issuing policies with exclusions for known medical conditions allows the insurer to avoid undue risk for all those conditions that are known and confessed at the time of application. This, by default, leaves the insurer vulnerable in relation to all medical conditions which are unknown or unconfessed at the time of application. Providing UMD screening for hidden diseases and treatment, if needed, would solve this dilemma also.
Claim Administration Considerations - Technical Details
In considering the claim administration function within the life insurance industry and the curing of the unsolved mystery diseases, one question becomes immediately clear: If a quick and easy blood test for detecting the various UMD's were developed today, could that test be used to identify cause of death?
Investment Considerations - Controlling the Future
Any insurance company in this situation would be required to pay a portion of the costs associated with drawing blood and doctor visits. Companies without testing facilities will need to contract testing services to an outside vendor or allow the doctors to do so. Then they must pay for those services, as benefits under their health insurance policies.
A company with its own testing facilities, on the other hand, will not need to pay outsiders for those services. Any money it pays out for lab testing, under health insurance benefit payments, would essentially be paid to itself.
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About the Book
As we near the time when the unsolved mystery diseases are cured, it would be wise to examine the effects this will have on the insurance industry in the United States. If cancer and other catastrophic diseases were no longer a threat, would people continue to buy insurance? If long-term disability in old or young age were not a common thing, would people continue to buy insurance? What insurance would people continue to buy? And why? And would the current insurers survive the marketplace changes? These are the questions we face in Future $hock. With direct, practical insights into marketing, actuary, underwriting, claim administration, and even investment planning, Future $hock offers a wise and powerful analysis of current and future trends in the insurance industry. Essential reading for anyone concerned with the future of health and life insurance in America.
About the Author
Founder and President of Triple U Enterprises, Katherine E. Anderson has been an independent researcher since 1994. Her published works include ground breaking investigations into the causes of our most devastating diseases in Unsolved Mystery Diseases (1995), the life and science of Albert Einstein (1994), and effective strategies for the creative thinker in The Idea Workshop (1996). In this 1997 work, Anderson investigates the dynamic impact that curing catastrophic diseases, such as cancer, leukemia, and AIDS, will have on the United States insurance industry in the years ahead. Anderson provides practical, essential reading for anyone concerned with the future of health and life insurance in America. Other Interesting Books by Katherine E. Anderson: Available at www.1stBooks.com and Ingram Distributors Unsolved Mystery Diseases - By applying proven, well-known facts about microorganism behavior from non-medical industries to the human body, Anderson discovers amazing, new insights into puzzling pathogenic mechanisms and disease etiology. For medical detectives everywhere! Einstein - Come, explore the fascinating world of Einstein in this intriguing 1994 drama. Written in movie script format, Einstein reveals the life and science of this charming and curious genius scene by scene and moment by moment. Albert Einstein - a TRUE hero! The Idea Workshop - The Idea Workshop gives you tools for every stage of your creative project - everything from how to find creative ideas, through starting and developing your ideas, all the way to completion of your creative dream. With special sections on identifying and developing your own customized creative environment, habits, and training program. The Idea Workshop gives you thousands of creative tips and techniques, direct from one creative person to another.