An Application of Big-Data Based Underwriting for Disability Support Insurance—A Case Study of C Life Insurance Company

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Thanks to the availability of healthcare services and advancement in medical technology, the average life expectancy of people in Taiwan is increasing, which also results in a gradually ageing population structure. While population ageing is accompanied by a rise in people with disabilities, low birth rate and increase in the percentage of women who are employed further weaken the function of family care for disabled people. As demand for long-term care escalates in the future, a large percentage of the care will reply on external support. Fin-tech refers to the use of technology to make financial services more efficient, thus forming an economic industry. Fin-tech can be said to be a new type of solution that has a highly disruptive and innovative nature for the development of business models, products, processes, and application systems for the financial and insurance services industry. Commercial insurance companies have introduced Disability Support Insurance. The experience of Big-Data Based Underwriting for sales for five years is very limited. If the Taiwan government can obtain data on the long-term care and disability rate of Chinese people, it How will the disability insurance bring about change? Therefore, the purpose of this study is to discuss the impact of the use of big data based underwriting of life insurance companies. In terms of research recommendations, Disability Support Insurance has the following recommendations for the application of big data underwriting: 1. Establish a financial credit database of policyholders and strengthen the risk of reviewing financial underwriting. 2. The life insurance company cancels the mechanism for the use of the hand-operated category. 3. Improve the efficiency of the policyholders to provide individual capital. 4. Constantly adjust the laws and regulations, and the digital trend of the international insurance industry.