The life insurance industry is rapidly adopting AI-powered underwriting systems that can approve policies in minutes rather than weeks, eliminating the need for medical exams for many applicants.

How It Works

AI systems analyze electronic health records, prescription databases, motor vehicle records, and financial data to assess risk in real-time. Applicants under 50 requesting coverage under $1 million can often be approved without any medical testing.

Industry Adoption

85% of top 20 life insurers now use some form of AI underwriting, up from 30% in 2023. The technology has reduced policy acquisition costs by 60%.