Insurers Battle Against Companies ‘Born Digital’
Chat windows, faster policy statements, intuitive agent portals and robotic technologies are among the new generation of weapons insurers intend to use to compete with “born-digital” companies.
Earning Customers for Life (LOMA Resource)
Providing an excellent customer experience is more important than ever as a strategic differentiator for insurance companies. Here’s what it takes to provide a customer experience that leads to brand insistence.
LV= Launches Pre-underwriting Tool to Give Instant Decisions
LV= has announced the launch of its new pre-underwriting tool, in partnership with UnderwriteMe, in a bid to improve the underwriting process for advisers.
Middle Market Life Insurance: Findings from Industry Leaders
The Society of Actuaries’ Marketing and Distribution Section (MAD) announce the release of a new report on the middle-income life insurance market. Success has been limited in this market even though over the last 10 years, a number of studies and ideas have been presented as viable strategies for serving the middle market. Authored by Doug Bennett with assistance from Stephen Camilli of ACTEX Learning, this report seeks to understand this lack of success and document the experiences of companies and distributors with significant working knowledge of the middle-income market.
MIB Life Index Reveals Uptick in Younger, Older Age Life Applicants
U.S. life insurance application activity rose 1.3 percent last year compared with 2015, according to the MIB Life Index.
Preparing for the Digitally Immersed Customer (LOMA Resource)
Rapid advancements in technologies such as IoT, wearables and AI is changing consumer behavior and expectations. How can you prepare for the customer of the future?
MIB Life Index Shows Slowdown in Younger Applicants
Application activity for individually underwritten life insurance fell -3.3% in November, year over year, according to the MIB Life Index.
Faster, Better, Cheaper
As we all know, the cost of most life insurance products is based on the risk of dying: policies for males, older individuals and those having health impairments are priced higher than for younger, healthier individuals.
Have Electronic Applications Come of Age?
My first experience with an electronic application was in 2002. I was working with a major credit card company who included a flyer along with the billing statement that provided information about how to apply on-line for their term life insurance product. We didn't know how many applications to expect; but based on the wide distribution, we planned on a high number.
Glass Half Full: Seismic Shifts in the Life Insurance Industry
It is not coincidental that LIMRA recently released a study indicating that 30 percent of U.S. households lack life insurance coverage at the same time that MetLife announced its decision to spin off its sputtering life insurance business.