As an increasing number of insurance companies, both traditional and startup, attempt to attract new customers, we see waves of product innovation ideas with goals to break into the under and un-insured markets. Some of these ideasare intended to be served as alternatives to traditional insurance focusing on adding enhancements to existing products ranging from flexible benefit design to accelerated underwriting. Others look to engage and attract new customers through a streamlined sales process in order to cultivate customer relationships and increase brand recognition. Explore how innovative companies break through obstacles from both the actuarial and compliance standpoint to bring new solutions to the marketplace.
By attending the session, you will:
- Understand types of innovation taking place in the life insurance industry.
- Provide ideas for product of the future.
- Learn different aspects of innovation on life insurance such as distribution, cost and compliance.