Computers

  • New Products and Special Markets
  • A. Modern computers make it feasible to consider marketing a flexible policy under which the premiums and benefits could be changed to meet the changing needs of the policyholder.

 --  Ardian C. Gill

  • Computers may make it feasible to produce a highly flexible policy with benefits and premiums that vary with the policyholder's whim.
  • Whether it is desirable to do so is another question.
  • The truth probably is that the general public neither needs nor wants a great deal of flexibility.
  • Any attempts on our part to anticipate his changing needs and to build into our policies the necessary flexibility may well be futile for the run-of-the-mill policyholder.

1967 - SOA - Individual Life and Health Insurance, Society of Actuaries - 62p

  • The actuarial department programs the various computer aids to selling.
  • Although we print complete booklets containing ledger sheets and similar information, we also have a personalized proposal service.
    • From a simple card questionnaire we can calculate the amount of insurance required for the prospect to complete his desired insurance program.
  • We offer another widely used computer service where the agent checks a card to indicate the type of illustration he desires and the amount and plan of insurance.
    • Within a short time he has a complete ledger statement for the prospect. Illustrations of net cost, split-dollar insurance, key man coverage, deferred compensation plans, and minimum deposit programs are available.

--  Henry C. Unruh, Provident Life

1965 - SOA - Digest of Discussion of Subjects of Special Interest: Individual Life Insurance, tsa65v17pt2dn488 - Society of Actuaries - 11p