Accelerated Underwriting

Accelerated underwriting is a life insurance process that uses data and algorithms to evaluate applicants without requiring traditional medical exams, blood tests, or urine samples. It relies on prescription histories, electronic health records, credit data, motor vehicle records, and other external data sources.

The approach can improve the customer experience by reducing application time from weeks to days. It also raises fairness and accuracy concerns. Colorado’s SB 21-169 was passed partly in response to accelerated underwriting, requiring insurers to test predictive models and external data for unfair discrimination.

Governance for accelerated underwriting includes validating the predictive model, testing external data for proxy discrimination, monitoring approval and denial rates, and ensuring adverse-action notice obligations are met. See our glossary entries on Colorado SB 21-169, predictive models, and external consumer data.