What do life insurance product developers have on their minds? A recent study group gave us some clues.
Jennifer Golbeck, Director of the Human-Computer Interaction Lab at the University of Maryland speaks with LIMRA’s Eric Sondergeld about “Big Social Data” and how to balance the need by industry for insight with the desire for privacy by consumers.
One of the hottest topics in financial services these days is blockchain. First introduced as the technology behind the currency Bitcoin, its value and potential are now recognized much more broadly. While not everyone fully understands it, more and more people are talking about it.
In an effort to underwrite more quickly and accurately, carriers are exploring simplified issue products, according to a new LIMRA study.
An increase in consumers willing to recommend life insurance to others contributes to a more positive climate for the product, according to the 2016 Insurance Barometer Study.
Two in three life insurance companies responding to a LIMRA survey in the U.S. and Canada have implemented automated underwriting for at least part of their business and another 32 percent are in the planning stages of implementing automated underwriting, according to a new LIMRA study.
Where increasing sales are concerned, the life insurance industry faces an uphill battle, but that’s only part of the story. New research from LIMRA shows the industry also has a “huge and growing opportunity” to reach American households, said LIMRA’s Eric T. Sondergeld.
Cost is the reason most Americans give for not owning life insurance, according to the 2015 Insurance Barometer Study, released today by LIMRA and non-profit Life Happens. Yet, 80 percent of consumers misjudge the price for term life insurance, with Millennials overestimating the cost by 213%, and Gen Xers overestimating the cost by 119%.
LIMRA Survey: More than Half of Financial Executives Surveyed Predict Outside Disruption in Life Insurance Market
Fifty-seven percent of financial executives believe an outside source (Google, Amazon, etc.) will be a disruptive force in the life insurance market within the next 5 years according to a new LIMRA report.