AIG Life's head of underwriting & claims strategy explores honest disclosure, underwriting responsibility and doing the right thing for customers
The life insurance industry knows it is important to share statistics about the number of claims it pays. We do it every year in a bid to reverse negative public perceptions and increase trust. Thankfully, it is not often that we have to turn down claims. The impact when we do can be devastating. There are a small number of claims that we cannot pay though and it is absolutely right that we do not pay them. The sad fact is a small number of people lie on their insurance applications. Disclosure...
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