A growing number of insurers recognize the need to use data analytics to enable intelligent, instant issue of underwritten life insurance.
The life insurance industry struggles to grow in large part due to slow and complex underwriting processes that make it too time-consuming and costly to write new business and broaden distribution channels, especially in the underserved mid-market. Insurance Networking News asked Brian Cohen, president of Westminster, Colo.-based Clear Technology Inc., about the obstacles and benefits to automating the life underwriting process.
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