Accelerated Underwriting Could Close The Life Insurance Gap

January 27, 2020 by John Hilton

Accelerated underwriting holds the promise of being able to cut the agent’s time spent selling a $500,000 policy from 20 hours to roughly five, a Deloitte analyst said.

The associated benefits from that are numerous. In particular, it could lead to more life insurance sold to Americans who need smaller amounts for basic protection.

Chris Stehno, managing director, human capital practice, at Deloitte, shared data and analysis Thursday on new underwriting technology for the National Association of Insurance Commissioners; Accelerated Underwriting Working Group. The benefits offered by accelerated underwriting have the potential to revolutionize the life insurance industry.

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Originally Posted at InsuranceNewsNet on January 24, 2020 by John Hilton.