Life insurers have been underwriting prospective insureds using the same information and methodology for years. In a new report, research and advisory firm Celent looks at an approach called Post-Issue Underwriting.

The issue the firm examines is whether information available from new sources such as wearables and implantable sensors would enable insurers to perform continuous underwriting after the issuance of the policy.

In the study, “Life Insurance Underwriting (R)evolution in the Age of the Internet of Things,” survey respondents weigh in on the validity of the concept and the level of acceptance and benefit available in the industry and to customers.

Respondents shared their beliefs on what data would be appropriate and the level of trust they would place in various sources of data.

“Our research shows that insurers are interested, but perhaps not ready for the concept,” Tom Scales, research director of Celent’s Life, Annuity, and Health Insurance practice and author of the report, said in a statement. “As wearables and sensors become more common, as Internet users age, it will be interesting to see if this changes.”

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