- Life insurance is fundamentally hard to sell; it’s morbid to think about, promises no immediate rewards, and often requires a lengthy paper application with minimal guidance.
- Despite the popularity of personalized products in other areas of finance and fintech, life insurance largely remains unchanged.
- A small, but growing pocket of insurtech startups are shaking up the status quo by finding ways to digitize life insurance and increase its appeal.
Life insurance is a fundamentally difficult product to sell; it requires people to think about their deaths without promising any immediate returns.
And, despite tech innovations and the development of personalized services in other areas of finance, life insurance remains largely unchanged.See the rest of the story at Business Insider
- NatWest is investing $1.3 million in in-house training for employees to better understand data
- Acorns is now valued at $860 million following a $105 million funding round
- SBI Holdings’ $450 million AI- and blockchain-focused fund is weighing up an investment in Onfido