The Transition to Digital Insurance Distribution: Finaeo

New white paper

Toronto, ON (Feb. 14, 2020) – Recent studies in insurance statistics reveal that 47% of clients searching for life insurance policies value speed, convenience and simplicity in underwriting above all other factors.[1]

However, the fulfillment process for life and health insurance is lengthy, fragmented and predominantly paper-based. Without effective tools or technology in place, it takes an advisor roughly six-to-eight weeks to complete the fulfillment process for their client. This approach adds unnecessary complexity and creates significant bottlenecks, which will not last in the long-term.

Client expectations are constantly evolving and becoming more reliant on mobile technology, which means distributors and their downline advisors need to come up with innovative ways to engage with clients. The push by insurers to digitize distribution in 2020 is driven by three key factors:

  • Changing consumer demands and advancements in technology
  • Increased efficiency and revenue potential for advisors and distributors
  • Recruiting and retaining financial advisors

In this white paper, find out how digital distribution is rapidly changing the client experience, and what advisors and distributors can do to prepare for the future of insurance distribution.

Access the White Paper Now

Notes

1. BestLifeRates.org: Life Insurance Statistics.

About Finaeo

Finaeo is a venture-backed InsurTech building the digital fabric to connect and power the life insurance industry,globally. Finaeo connects insurance carriers, brokers and their clients through an integrated marketplace to streamline the “prospect-to-policy” experience.

Finaeo is a participant in the InsurTech Spotlight.

To learn more about how Finaeo is powering the future of insurance, please visit finaeo.com

SOURCE: Finaeo Inc.

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