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