Hot tech trends: Life insurance on the rise

January 8, 2024
1 min read


  • Life insurance industry is slow to adopt technologies like wearables, APIs, and blockchain, but these technologies will play a significant role in the industry’s future.
  • Changing workforce and the need to upskill and train younger generations will be a challenge for life insurers.
  • The life insurance sector is expected to see more funding volume, especially in the permanent life space, and advancements in Gen AI and other technologies.
  • Utilizing LLMs and leveraging AI for efficiencies will be a shift in the industry.
  • Sale of life insurance through online avenues and social media sites will continue to gain prominence.
  • Improving the buying experience from a digital and underwriting perspective is a key challenge for life insurance companies.
  • Collaboration between insurtechs and legacy insurers will increase, with opportunities for integrating data, analytics, and emerging technologies.

Life insurance professionals share their expectations for life insurance technology in the coming years. Mutual of Omaha predicts that wearables, APIs, and blockchain will be adopted by carriers to collect data and enhance customer service. Equisoft emphasizes the need to address the changing workforce and the challenge of delivering value to policyholders while upskilling younger generations. American Family Ventures expects more funding volume in the life insurance sector, advancements in permanent life space, and innovation enabled by Gen AI and other technology shifts. American Family Insurance anticipates the utilization of LLMs and AI for efficiencies. CNO Financial Group sees a continuation of online sales of life insurance and the growing prominence of social media for information. John Hancock foresees increased collaboration between insurtechs and legacy insurers, with more integration of data, analytics, and emerging technologies into their Vitality platform.

Latest from Blog

Your Daily InsurTech Briefing – 2024-02-27

Let’s see what’s in the news today. Brightway Insurance Names Nick Clements as CEO to Drive Technological Transformation Brightway Insurance, a US-based personal lines insurance distribution platform, has appointed Nick Clements as

Revolutionize insurance through cloud-native technology.

TLDR: Cloud-native technology is modernizing the insurance industry by providing flexibility, scalability, and improved customer experience. Benefits include flexibility and scalability, improved customer experience, lower costs, and improved efficiency. The insurance industry,

Insuring Bharat with the PoSP Model’s Power.

TLDR: Key Points: India’s insurance industry has immense potential with low penetration rates compared to global average. The PoSP model, supported by technology and human interface, is transforming insurance distribution in India.

Your Daily InsurTech Briefing – 2024-02-26

Let’s see what’s in the news today. Berlin-based InsurTech Embea secures €4m for embedded life insurance Berlin-based Embea has successfully concluded its seed funding round, securing a remarkable €4m. Read the original