A new and innovative way to issue life insurance? Is that possible?

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11 November 2011


  • This Innovative way to issue Life Insurance, will it not compromise the process for financial and health underwriting?? Something that might be an issue at the time of filing a claim?

    Thank you

  • This is interesting, Karen. We're trying to do the same think with surety bonds. That is, we want to issue bonds immediately after receiving the electronic app, as opposed to the usual delay of hours or days.

  • This is pathbreaking initiative from Hartford and am sure the foeld force would be loving it. It reamins to be seen thier claim expereince out of this initiaitive, I trust Harford would have prices risk of Moral Hazard adequately.

  • can you please elaborate on
    "Forward looking ideas like replacing a call center with a Watson like system were suggested as potential future disruptions"

  • Hartford Life's innovative strategy to write policies seems luring to the prospective policyholders. But the validity of the decision can only be judged after a couple of years.
    Insurance has been always affected by Moral Hazard. It would be interesting to see how they manage this problem.

  • @shrinivas
    Shrinivas, the following article expands on this idea of using the IBM Waston technology in collaboration with a website to replace the need for part of a call center. Proactively helping online and eliminating the need to call.

  • In Canada, we have Canada Protection Plan, and several other carriers that offer life insurance with non medical or simplified issue prior to underwriting unsing an 8 - 14 question application. However, the age and face value are nowhere near the Hartford offering. With many carriers cutting back and increasing COI & YRT premiums it will be interesting to see if this will stand the test of time.