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1Life sees 400% increase in online funeral insurance sales

1Life sees 400% increase in online funeral insurance sales

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As businesses and consumers navigate the risk of financial loss amid an economic crisis, there is a heightened need for easily accessible, comprehensive long-term insurance that protects financial well being – be that for an entrepreneur or the average consumer.

Insurance companies are recognising the importance of technological innovation in offering this ease and convenience and ensuring that people have access to insurance at the touch of a button on a platform of their choice.

In the last 10 months, 1Life has seen over 400% increase in online funeral sales, proving the increased need for convenience and quick turnaround in a fast-paced world with heightened financial risk.

From claims processing and improved application management to delivering on-demand solutions, providing enhanced advisory services, and affordable premiums – AI has proven to be the solution.

Not only does digital play an essential role in product design, product distribution and service delivery in the insurance industry, but it cuts out the middleman, guaranteeing customers affordable premiums.

As such, Brina Biggs, Strategic Consumer Lead Consumer at 1Life would appreciate the opportunity to discuss the above and provide further insight into:

  • The shift toward digitisation in the insurance industry and why this is crucial to meeting consumer demands – as well as those of the broker market?
  • How embracing AI while remaining cognisant of the regulatory environment has changed the way insurers sell insurance and the success witnessed in doing so?
  • The role of human agents in the digitisation of insurance
  • The importance of technology in making insurance easily accessible as part of the tool stack to creating generational wealth

BUSINESS REPORT

Original Article

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