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.
How to Improve Your Clients’ Life Underwriting Odds
The best in the business often employ a "pre-underwriting" client screening.
Life Insurance Transformation: Four Powerful Examples
The digital economy is rapidly changing the way life insurers market and sell their products and services. Already some companies are successfully adapting to the new demands of the marketplace. These are the Digital Transformers. They are moving quickly to find new customers, deliver new products and open new markets.
John Hancock Looks to Expand Reach of Vitality
A year after launching John Hancock Vitality, the life insurance giant has begun expanding the reach of its connected-health product to further engage with customers.
Why Gamification Matters to Life Insurers
Among the many changes and innovations happening in the insurance industry today, gamification is surely one of the more interesting. At the nexus of trends ranging from behavioral science and social networking to the Internet of Things and wearable tech, gamification is serving as a powerful lever for insurers seeking to enrich digital experiences and adopt new customer-centric business models, such as pay-as-you-live offerings.
Middle-Income Market – What the Experts Have to Say
This article is featured in the Sept, 2016 issue of NewsDirect from the SOA’s Marketing and Distribution Section.
https://www.soa.org/professional-interests/marketing-and-distribution/ma... (article is on page 4)
Life Insurance Underwriting: Time to Recalibrate?
Life insurance is a must-have if you have a family or financial commitments. Like many, I bought my policy many years ago and never really thought about it again. Granted, I live in the world of life insurance, so I know it is there and active, but it wasn’t until recently that a friend probed me to take a look and make sure I had the coverage I needed (he’s a new agent).
Building a Strong Service Culture (Loma Resource)
The insurance industry has a lot of challenges right now, with pressure on interest rates, profit margins and a constantly changing technology. Change within the industry continues to accelerate. Pressure and expectations for better and faster service are driven from within and outside the industry. Customer service is becoming more important than ever as a strategic differentiator for insurance companies. Achieving great customer service starts with your company’s vision, culture and commitment to getting everyone moving toward the common goal of service excellence.