[Infographic] 5 Drivers Accelerating Convergence in Life Insurance Distribution

How has your life changed since the pandemic began? Maybe you’ve adopted some new habits—daily walks, working from home, starting a garden? Maybe you’ve opted for more online shopping, takeout ordering and at-home workouts or entertainment. As the world around you changed, you adapted your life to accommodate. 

Just as our personal lives have changed, so has the life insurance industry. Resources that traditionally operated in silos are converging to better meet the needs of consumers, driving an increased appetite for innovation in buying, selling and distributing life insurance. In the same way we’ve adapted our lives to accommodate our new reality, the insurance industry must also adapt to fit our new environment.

This infographic provides an in-depth look at five of the specific drivers accelerating change in the insurance industry. The current convergence is making it possible for insurers to deliver more convenient, personalized, and valued protection products to consumers. The opportunity for the industry to close the coverage gap is now greater than ever before.

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[1] https://www.prnewswire.com/news-releases/us-life-insurance-activity-hits-record-growth-in-2020-reports-the-mib-life-index-301208070.html 

[2] https://www.limra.com/en/newsroom/news-releases/2021/indus-try-associations-unite-to-help-address-the-life-insurance-coverage-gap-in-the-united-states/ 

[3] https://www.cbinsights.com/research/insurtech-business-relationship-trends/ 

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