Four in 10 Consumers Shop for Life Insurance Online or Using App: Study
by: Doug Bailey
More than four in 10 consumers go online or use an app when shopping for life insurance, according to a TransUnion survey. While the survey aligns along with the industry trend toward digitalization, it also highlights how life insurers generally were slow to adopt technology innovation. Mark McElroy, executive vice president and head of TransUnion’s insurance business, pointed to data from the Insurance Information Institute, which show that more than 65% of personal lines policies were sold direct in 2021, while only 6% of life policies were.
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