Life insurance lags behind other sectors in adopting behavioral benefits

October 24, 2022 by Doug Bailey

Behavioral insurance has found a place in health, auto, and home coverage, but U.S. companies have been relatively slow to apply the dynamics to life insurance.

This type of insurance underwrites, prices, and pays out according to a customer’s behavior. Auto insurers use telematics or mobile apps that can reward drivers with lower premiums based on their driving habits. Health insurers feature wellness programs that can provide either credit or health savings account contributions linked to positive health behaviors.

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Originally Posted at InsuranceNewsNet on October 19, 2022 by Doug Bailey.