The human desire to protect those we love is nothing new, and neither is the concept of life insurance. In fact, the bare basics – the way we apply and qualify for insurance coverage – hasn’t changed very much in the 150 years since the concept of life insurance was first popularized. Today, modern technology has made certain aspects of claims adjustment and underwriting much easier and faster for carriers, but consumers still face challenges that can put them off from getting the coverage they and their families need.
Purchasing life insurance is exponentially faster, but applying and qualifying for coverage remains time-consuming, as does policy underwriting. The looming specter of getting the medical tests required to qualify for certain policies has long been a reason for people who may benefit most from life insurance to avoid or delay buying it.
There’s also the issue of immediacy: In today’s climate of instant gratification and the industry-agnostic promise of rapid and satisfying customer experiences, answering seemingly endless questions and waiting for weeks to learn if a carrier will cover a customer – and do so at the best possible rate – is rarely acceptable.
For insurers, keeping potential policyholders from dropping out of the sales cycle is a constant battle they’ve been working to alleviate for decades. There’s still plenty of dissatisfaction on both the carrier and end consumer sides to go around.
Denne historien er fra June 2023-utgaven av The BOSS Magazine.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra June 2023-utgaven av The BOSS Magazine.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Travel Well in 2025
The best places to see & best things to do in the new year
Getting Back to giving
How to revive charitable donations, with Charitybuzz CEO Ben Erwin
Breathtaking BUILDINGS
THE WORLD'S MOST AWE-INSPIRING EDIFICES
ALong for the Ride
Clean energy projects go up in areas once dominated by fossil fuels
HEALTHCARE ANALYTICS: FIGHTING THE GOOD FIGHT
Advanced analytics are transforming healthcare operations and patient care. Nevada's Renown Health is leading the way, creating a roadmap for swift and effective change.
THE RIGHT ACCELERANT
THE POSSIBILITIES - AND LIMITATIONS OF AI IN SCIENTIFIC RESEARCH
IN GLOBAL LOGISTICS
How thinking global and acting local is enlarging the global footprint of the Staci Group
THE RIGHT STUFF
Why veterans thrive in logistics
LIVING MACHINES
BIOHYBRIDS BRING THE POWER OF NATURE TO ROBOTICS
MANUFACTURING'S NEW LOOK
The industry’s reputation doesn’t match reality, but the future is bright