While most consumers and business owners understand the basic value of life insurance and employee benefits, the product and process complexity of Insurance 1.0 has made it difficult to create meaningful engagement with customers, causing many to view insurance as a necessary evil … something they need but don’t necessarily want. For discretionary products like life insurance and voluntary employee benefits, this is an especially vexing issue.
The challenge gets even more intense for L&A and Group carriers with the rapidly growing new generation of insurance buyers led by Gen Z and Millennials, whose new digitally-driven needs and expectations simply can’t be met by Insurance 1.0 business models from the past 30+ years.
A new wave of insurance and benefits products is emerging from Digital Insurance 2.0 companies. They are using data and digital technologies to create simpler, more customized and tailored offerings with greatly streamlined and simplified processes, directly attacking the key weaknesses of Insurance 1.0 offerings. In this webinar, we’ll break down some of these new models into their key components and identify how they assemble them into fresh new playbooks for success in the new era of Digital Insurance 2.0.