In recent years, the innovation and diversification of the insurance product, fraud prevalence, and modification of insurance product laws led to the complication in underwriting process. Besides, the occurrence of fraud within the insurance company’s employees resulted in the company’s substantial losses, the damage of the commercial goodwill, and the collapse of the company. This study was based on the classifications of the Code of Practice of Insurance risk Management, and divided the risk life insurance underwriting operations into four categories. Moreover, this study also identified the key significant factors for individual life insurance underwriting processes from the various possible risk factors to establish monitoring mechanism.
This study was based on Expert Delphi survey. After conducting the questionnaire and collecting the feedbacks, the experts’ opinions of the survey would reach the consensus.
The consequence of this study would establish a risk mapping by the probability and the corporation operating influential level of various underwriting risk factors’ occurrence, providing the risk assessments and references for the life insurance company’s underwriting directors to impose the underwriting policies, and to avoid or reduce operational risk to ensure the safety of the insurance company.