trends

Digital point of sales solutions for life insurance continue to become more innovative.
 

The last 17 months has certainly brought on a lot of change, some planned and some not planned. Below are some of the major topics that our U.S. life and health clients have been focused on recently – and question how best to move forward.
 

It seems in 2021 that every couple of months I learn about a software solution, new process, or new service that innovates, enhances, and accelerates life insurance underwriting. 
 

Driven by the need to slow or stop the spread of COVID-19, accelerated underwriting may save lives while increasing sales of life insurance.
 

Data analytics projects have become increasingly common across the insurance industry in the last few years and have really taken off in the Life sector. It’s a trend that requires the input of Medical Directors - and it gives the Directors a chance to shine.

The U.S. hit a sad record in 2020, with deaths reaching more than 3 million for the first time.
 

With an estimated 90% of the world’s data collected in the last two years, digital strategies are evolving rapidly. But how do we make business decisions with all the data that is available? What does it mean for underwriting?

Here is an inside look on how life insurance solution providers adapted and innovated to these new challenges in 2020.

This year continues to present challenges that force us all to think differently. The pandemic response promoted independent action, self-help and a heightened sense of social responsibility. This has accelerated the harnessing of technology as solutions for how we work, communicate, access healthcare, buy goods and receive services. 

It is a long way from Bob Dylan’s realistic prophecy of what was happening and what was to come back in 1964 when he wrote the song. No one can disagree with the state of the world protests and the COVID pandemic that the times certainly are a-changin’. This is also the phenomenon happening in underwriting and risk selection, and we have to be prepared to meet the changes to insure a positive outcome no matter our underlying feeling about what those changes are.