How is Technology Making It Easier to Sell and Underwrite Life Insurance?

Date

November 16, 2016

  • Results-Oriented Solutions

Presented by

Marketing & Distribution and Technology sections

Time

Noon-1:30 p.m. ET

Location

This webcast takes place via the Internet.

Registration Fees

Registration is now closed. The SOA Customer Service Center is available to assist you Monday through Friday, 8:00 a.m. to 5:00 p.m. CDT. Please call +1-888-697-3900.

Who Should Participate

Actuaries interested in learning how technology can be used to streamline life insurance sales.

Primary Competency

Results-Oriented Solutions

Description

Managing the fast pace of technological change has not been easy for the life insurance industry, but has also presented opportunities. One area companies have recently seen success is using technological advancements to streamline the sales and underwriting process.

  • Front-end interfaces used by agents or customers can offer an online policy application process that is as fast as 15 minutes and includes interactive interview questions, e-signature capabilities, automated data gathering, and electronic policy delivery.
  • Rules-based underwriting decisions can be made at the point of sale using reflexive questioning, real time searches of traditional underwriting data and data from our increasing digital footprint.
  • Case management systems can automatically orchestrate relevant third party information when applications are above the limits for an automated decision at the point of sale.
  • Use of predictive analytics to test underwriting success, and the ability to rapidly adapt rules, processes and products.

Streamlining sales and underwriting involves more than moving existing paper based products and processes to a digital platform. Technological challenges involve working with IT and external vendors to integrate the numerous technological platforms involved and implement the appropriate governance and controls to ensure compliance around privacy and data protection.

How the live webcast works and what it includes

You do not need any special equipment. On Nov. 15, 2016, before 2:00 p.m. ET you will be sent detailed webcast instructions via email including the Web address for accessing the presentation. Any handouts that are available will also be sent. You will follow along with both the slide presentation and the audio portion of the broadcast over the Internet. Telephone-based audio will also be available.

The registration fee includes:

  • One access code to the live webcast;
  • One Internet connection;
  • One set of presentation materials; and
  • Access to the subsequent webcast recording.

Please note that each access code may only be used for one location, even if you register for more than one participant.

Post-Webcast Purchase Opportunity

For those who are interested in SOA webcasts but are unable to participate in the live event, access to an archived recording of the webcast will be available for purchase approximately 10 business days following the event by using the following  link .

 

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