Keep your eyes peeled for these trends in the life insurance industry.
The life insurance game is changing right before our eyes. With new technological innovations and new ways to connect, life insurance is quickly moving into the 21st century. Here are some of the biggest trends you should look for in life insurance this year.
Leveraging the Internet
Back in the day, getting life insurance meant scheduling a series of face-to-face meetings with an insurance agent to work out all the details. However, the advent of the internet has allowed insurance agencies to streamline the whole process. Now, instead of having to meet with or speak to an agent, customers can easily get the coverage they need online. In 2018, expect more insurance companies to leverage the power of the internet.
Automated Underwritings
Another trend you can expect to see this year is an increased reliance on automated underwriting tools. In the past, the life insurance underwriting process was extremely drawn out and complicated. However, new automation tools are allowing insurance companies to better track their clients risk and calculate their premiums based on these risk analyses. Additionally, this new technology also allows insurance companies to predict risks and to offer their customers advice on how to mitigate these potential threats.
Mobile Applications and User-Friendly Web Design
Finally, you should expect to see the rise of mobile applications and easy-to-use websites in the life insurance industry. These innovations will give clients easier access to their insurance providers and provide the ability to access their policy or have their questions answered with a few strokes of the keyboard. Not only will this lead to more informed clients, but it will allow insurance companies to offer their customers the service they deserve.
Look forward to these life insurance trends in 2018. Do you have questions regarding your life insurance coverage? Then don’t hesitate to contact us at Donald Weiss Insurance Services. Our highly-trained professionals are ready to assist you with all your insurance needs.
