life insurance
NAIC Proposes New Suitability Standards
While life insurers and other sellers of annuities await the Department of Labor’s fiduciary rule, the National Association of Insurance Commissioners has drafted a proposal for a best interest standard. The proposal, titled “Suitability and Best Interest Standard of Conduct…
The Business Benefits of Continuous Underwriting for Insurers
Continuous underwriting offers a wealth of benefits to life insurers. Value Propositions A report by Celent, a leading research and consulting firm, looked at continuous underwriting’s top value propositions. Insurer shareholders ranked first place in the survey, based on the…
Insurers Making Interesting Use of Continuous Underwriting
As noted in one of my previous blog posts, several factors are fueling the growing continuous underwriting trend. There are already a few notable insurers who are doing interesting things in this space around the globe. My new white paper, “Continuous…
Differentiators for an Effective Group/Voluntary PAS
My previous blog post highlights the challenges insurers are facing in the group life and annuities marketplace, such as the fact that most insurers have a special system dedicated to basic group processing that does not meet their current needs….
Four Big Challenges for Group Life/Voluntary Carriers
The U.S. group life and annuities marketplace is rapidly evolving, due to changing regulations and rising healthcare costs. This market has shifted from basic group products, to a complex mix of group/voluntary products across lines of business. Worksite benefit offerings…
Selfies Set to Revolutionize Life Insurance Underwriting?
Many of us find looking at other people’s selfies to be annoying. One survey found that a whopping 82 percent of participants would rather see other types of photos, instead of selfies, on social media. But there is one group…
“Cool” Customer Engagement for Insurance
As I wrote in my Sapiens eBook, Engage in a Winning Strategy!, life insurance has one of the lowest levels of “touch” with customers across verticals in the financial services industries. Usually the only time life insurers contact their customers…
My Life Insurer’s Missed Opportunity
By dedicating myself to a plant-based diet and exercising regularly, I’ve lost 31 pounds (14 kilograms) in the past three months and lowered my blood pressure. Family members, friends and co-workers have been very supportive – a co-worker who lives…
Two Steps for Insurer Success in the IoT Space
Although the IoT era has already begun, some insurers are still finding it difficult to adjust, due to their existing platforms. It’s difficult enough to capture and process billions of new data points. Only insurers with a 360-degree view of…
Core Cloud Solution Adoption is Rising. Here’s Why…
Insurers are increasingly adopting cloud-based core systems, wrote Danni Santana in an informative article for Insurance Networking News (“Cloud-Based Core Still on the Rise”). Chuck Ruzicka, VP of research and consulting at Novarica, was quoted as saying, “We are passed…
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