WSJ Article: "Life Insurers Draw on Data, Not Blood"

[insurehound]

Life Insurers Draw on Data, Not Blood - WSJ

Interesting article.

The purchase of Individual Life Insurance has dropped by 40% since the 80s.

Online efforts/start-ups focusing on using data as opposed to paramed exams for qualifying applicants. Haven is one example.

So will this work? More importantly, is this another attempt for the carriers to go direct or will independent agents have the same ability to sell using this model?

IMO, this is a gamble as the paramed has been a staple for evaluating risk but apparently some carriers are willing to roll the dice.

 

[SuperWoman]

Would love to read the article but I am not subscribing for the privilege.

Perhaps you can post it here in its entirety?

 

[Tahoe Ray]

Life Insurers Draw on Data, Not Blood - WSJ

Interesting article.

The purchase of Individual Life Insurance has dropped by 40% since the 80s.

Online efforts/start-ups focusing on using data as opposed to paramed exams for qualifying applicants. Haven is one example.

So will this work? More importantly, is this another attempt for the carriers to go direct or will independent agents have the same ability to sell using this model?

IMO, this is a gamble as the paramed has been a staple for evaluating risk but apparently some carriers are willing to roll the dice.

It's not just some carriers, it is many. Banner, SBLI, John Hancock, Principal, Lincoln, Sagicor, American National, and more all have programs that don't require a paramed.

All of those can be sold by agents.