In the March issue of Life & Health Advisor magazine, Corporate Insight’s Patrick Flood published an article discussing 2020 life insurance digital marketing trends, particularly the push toward wellness programs and digital benefits:

A Digital Approach

Several life insurance firms are attempting to do just that with new, digital benefits for their policyholders. Firms tracked by Corporate Insight’s Life Insurance Research Services now offer free app subscriptions, discount programs and wellness trackers to benefit policyholders while they are alive—and thus able to offer recommendations to friends and family without a Ouija board. CI’s tracked firms are also taking a renewed interest in creating fully digital application processes, to turn these recommendations into new customers.

Wellness programs, as seen from John Hancock, Principal and State Farm, are currently the most popular method for creating positive engagement with customers. Firms offer a financial reward—lower premiums or gift cards—to policyholders for completing healthy activities, which users record in an app. These behavior-change platforms, developed with a third party, seek to gamify life insurance while creating healthier policyholders, a win-win for insurers.

Read the full Life & Health Advisor article here, and read more about our life insurance trend analysis here.