Life insurance

Carriers enter the new year with a sense of urgency to deploy faster, higher-impact capabilities aimed at enhancing underwriting, claims and customer interaction, says Aite Group.

Apple’s current Watch has a more basic heart rate monitor, but the company is increasingly pushing to turn its luxury fashion accessory into a serious medical device.

Kevin Dougherty is tasked with accelerating the life carrier's technological capabilities in digital health, data analytics and artificial intelligence.

In two outlook papers, Deloitte advises carriers how best to navigate an industry undergoing rapid digitally driven change.

Coverage gaps will become common as less people are reached to buy insurance through traditional channels.

Rather than looking to innovate on products, startups in life insurance concentrate on distribution as a way to improve the sector, say Accenture panelists.

The move ties into the carrier's ongoing innovation efforts, as it tries to bolster its digital capabilities.

Former Protective Life exec Frank Sottosanti joins the company with mandate to transform on digital platforms.

Less than one-fifth of top life insurance carriers have a policyholder smartphone app, according to Aite Group research, leaving lots of room for improvement in leveraging the channel.

Insurance industry as a whole, however, lags other financial services somewhat in implementing robotic process automation, according to PwC.