Why Life Insurers Are Talking About Gamification
November 22, 2018 by Jane Wang
LIMRA shared some interesting new stats from their research at their annual conference a couple of weeks ago, and it looks like 2018 is going to be another challenging year for life insurers in the North American market.
To combat market disruptors and close the current $25 trillion protection gap, the industry appears to be doubling down on key learnings from the FAANG group of companies (Facebook, Amazon, Apple, Netflix, Google) on adding value to customers — bringing personalized digital experiences, seeking high-velocity consumer data, analyzing it systematically, and expanding their customer advocates — all to power their future business strategies.
This industry is fighting to modernize and stay relevant to today’s customers in order to meet them where they are: offering choice, being digital and mobile-enabled, and creating simplified, seamless, and convenient customer interactions.
Expanding their current value propositions is a solution to this problem.
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