InsureTech Impact on Life/Annuity Product and Distribution Strategies
Report Summary
November 2018 - Life insurers are increasingly willing to experiment with digital distribution, driven in part by the example set by InsureTechs and their customer-centric approach to products, marketing, and distribution. Unafraid to fail and retry, InsureTechs are searching for ways to optimize the digital buying process for life insurance and expand the market.
With InsureTech business models providing insurers with fresh new perspective, insurers are taking steps to restructure their new business and underwriting capabilities. Many traditional life carriers are developing D2C products while others are providing their agents, wholesalers, and broker-dealers with more effective digital capabilities.