Why Are There No Drones in Life Insurance?
What Is Holding Back Innovation?
Why are there no drones in life insurance? By this we mean, why is life insurance innovation lagging other lines of business?
Celent has released a new report titled Why Are There No Drones in Life Insurance? The report was written by Tom Scales, a Research Director with Celent’s Insurance practice.
While wearables and analytics are bringing technology and insights to life insurance, the fundamental process and approach have not changed in decades, if not centuries. The process to sell and service life insurance has been essentially stagnant, and the future of our industry requires change at the core of our thinking.
“The life insurance industry lags other insurance lines in innovation,” said Scales. We see exciting new offerings in P&C and health, but few in life.”
“We are seeing some exciting innovations,” he added. “We are hoping to see the pace and quantity improve.”