The missed opportunity Today, P&C agents can easily attach life to their home and auto book of business, with new solutions that radically reduce time to issue and increase approval rates.
You’ve got a first-time homebuyer on the phone discussing a policy on their home. What better time to talk about life insurance, right? But as every P&C agent that’s taken even a casual glance at life insurance has learned, underwriting is a hassle. A big, time-wasting, invasive hassle. Typically, carriers dive deep into your client’s medical history, send a medical professional to their home for a physical exam and blood draw, and then make everyone wait for weeks or even months—sometimes only to end in a decline. It’s rarely worth risking your time and your client’s goodwill, even if they really need coverage. That’s why many personal lines agents don’t bother to get a life insurance license at all. But what if life insurance was worth your time? What if quoting and activating a life insurance policy was simple and straightforward? You could offer the peace of mind your clients need and the protection their families deserve. It would mean a new revenue stream for you: a true multi-line business, and the higher retention rates that come with it.
As insuretech companies continue to transform the industry, many now offer ways to tap the potential of life insurance without the pain. Even if you’re not licensed to sell life insurance, referral bonuses can make it well worth your time to explore.
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