Often at times, planning for death may sound bizarre. The fact of the matter is, death is inevitable and it’s important that an individual plan for it. It is for this reason that one should consider getting a good life insurance policy.
With 2018 slowly coming to an end, there have been a number of key trends in the life insurance industry which will definitely affect both customers and insurance companies. Here are the top five trends that have had a vulnerability in 2018.
1. Use of cloud computing
Most millennial have kept off from getting a life insurance plan due to the hustle in getting all the required details. This process has been thought to exhausting and time-consuming. With the introduction of cloud computing, most information required will be easily accessed.
2. The internet advantage
Previously, most steps in getting an insurance cover required a physical meeting between the insurance agent and customer. The internet has however improved convenience since you are now able to purchase an insurance plan from the comfort of your home.
3. Automated underwritings
Introduction of automation tools in the insurance sector has improved customers satisfaction with insurance agents effectively interacting with customers and automatically tracking changes in their underwriting details.
4. Incorporation of the blockchain.
Integration of blockchain in the life insurance industry has led to the provision of a more transparent system for both insurance agents and clients. In addition, it has made the process more flexible and improved security with its audit-ability technique.
5. Multi-channel access
With the fact that most customer needs are digitally inclined, insurance companies have had to embrace the use of smart and seamless was in order that their customers can easily follow through their plans and get the opportunity to regularly update their details from anyplace.
At Matthews, NC, JC Demo Insurance Group, we offer a wide range of life insurance options to both new and existing customers. Call us or visit us today so that we can provide advice and solutions in regards to the 2018 life insurance trends which will be of great benefit to you.