4 Myths about Digital Transformation in Life Insurance

Myth 1 Digital sales will come between me and my clients.

Fact: Digital platforms can connect you with your clients—and help you find more. According to LIMRA, life insurance purchase intent increased by 31 percent since the pandemic began.¹ At the same time, the new challenges of in-person contact changed the way life insurance is sold. Consumers have migrated to online channels for more of their needs than ever. When it comes to life insurance, a whopping 98% of financial services companies now say their customers want to shop online.¹ Actual sales data drive home the point: today, less than one-third of people who buy life insurance do so in person—down from 44% before the pandemic.² In 2021, life insurance was a top online insurance purchase category globally, second only to auto insurance.³ What to look for: minimal case work, maximum connections. Online life insurance sales platforms offer agents the ability to meet increasing demand for online-only life insurance sales, with no in-person meetings and no medical exams. Half of consumers say they’re more likely to buy life insurance through automated or simplified underwriting vs. traditional underwriting. Look for a sales platform that helps you minimize casework and maximize your client connections. For instance, Ethos, a leading online life insurance company, offers your clients top-rated life insurance coverage and handles 100% of your case work. That means you can protect more American families, while freeing up as much of your time as possible to pursue new leads. Once you’ve settled on an online sales platform, digital marketing tools can connect you with online leads to supercharge your business. For example, the agent program at Ethos offers pre-approved digital ads, email templates, a step-by-step Facebook lead generation guide, and ongoing support through webinars and one-on-one consultations.

What to look for: Online-only sales Zero casework Top-rated carriers Digital marketing support

1 LIMRA 2021 Insurance Barometer Study 2 Investopedia, LIMRA 2020 Insurance Barometer Study 3 Statista Global Consumer Survey

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