In the early 1960s, medical technology advanced rapidly, bringing about a simultaneous rise in medical costs. Concern about covering these costs spurred the development of many kinds of healthcare plans. At the same time, new life and casualty companies sprang up, as labor organizations negotiated health benefits and pension plans. Actuaries were needed to work out the longevity probabilities and incidence of specific illnesses, and provide information and services to the growing insurance industry.
