Barriers to Accelerated Underwriting Beginning to Crumble
October 10, 2017 by Cyril Tuohy
Accelerated underwriting began breaking down the remaining barriers to a digital world of life insurance distribution last year thanks to new technologies and services provided by large insurers and start-ups alike, according to a new report.
Life insurance application and issuance, two of three steps necessary before buyers receive coverage, have been digitized for years.
But the in-between step – an invasive paramedical exam that often takes several weeks to schedule and administer – has remained the sticking point to an entirely digital life insurance process buying process.
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