The 74% Life Insurance Sales Opportunity due to Americans Being Under Insured

A report published by Atidot, indicates that in the United States only 26% of the total coverage needed for life insurance is currently met, leaving 74% of unmet potential coverage. Consequently, insurance companies are missing out on an average of $785 in annual life insurance premium payments per person who requires insurance coverage in the U.S. resulting in a total missed potential of almost $70B in annual premiums.

The Atidot report estimates the levels of insurance on a state-by-state basis, with West Virginia having the higher average under-insurance level of 85% and Oklahoma having the lowest average under-insurance level of 51%.

Atidot is an insurance technology company that provides AI, big data, and predictive analytics tools to the life insurance industry.