More Americans Likely To Buy Simplified Underwritten Life Insurance
April 2, 2019 by Jacqueline Sergeant
Americans want ease and speed when buying life insurance so they are opting to go the route of simplified underwriting, according to the 2019 Insurance Barometer Study conducted by LIMRA and Life Happens.
And because ownership numbers are declining, many insurance companies have leveraged advances in technology—such as advanced analytics, big data and artificial intelligence—to streamline the underwriting process and better meet the needs and preferences of today’s consumers, the study found.
Since the inception of the study in 2011, life insurance ownership has declined from 63 percent to 57 percent in 2019.
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