Life Insurers Digital Capabilities Lagging

The J.D. Power 2020 U.S. Digital Insurance Experience Study indicates insurers have improved the clarity of information but still have issues with the amount of information and their approach.

Insurers that take a manual process and put it on a computer screen are not really embracing digital tools. This process does not take full advantage of digital capabilities that can improve the customer and agent experience in areas that include service and purchasing.

The Corona virus pandemic has shown the increased need for better digital capabilities among life insurers. As carriers add digital functionality they should look to other industries such as banking and the property and casualty insurance for ideas on how to create a best-in-class digital platform for their customers, employees and distributors.

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