The Opportunity Technology Provides in 2022

New calendars might mean tax-time, but they also mean we have a new column of data to learn from. Here are a few facts gathered from 2021:

• During the first half of 2021, Americans bought life insurance at a pace unmatched in nearly 40 years, since 1983.

• Nearly half of Americans (48%) would be more likely to purchase life insurance if simplified underwriting were available.

• Traditionally under-represented groups such as millennials and minorities are buying life insurance today at rates previously unseen.

These take-aways from LIMRA’s most recent annual insurance report signify the opportunity taking place around us. Our world remains in constant states of flux; year-end reports and meta-data exist for us to leverage their messages and improve our environment.

Here’s another relevant snippet:

• Every year, more than 17 million life insurance policy applications die on the vine – each one a “stuck shopper” who begins an application but does not complete the process.

This means barriers still exist that prevent more policies from being sold. Even while providers of life insurance are faced with potential boom times, snags in the system remain that keep consumers out. Choosing the right technology partner has never been more crucial.

Generations of industry-leading technology

Management Research Services (MRS) was founded in 1988 to bring a high-end customer experience to the life and health insurance industries. Even thirty years ago, it was clear that technology was key for designing systems to help customers and clients in cost-effective ways.

Today, decades of working with businesses, third-party providers, and their policy-holders have informed our design teams on what best practice and industry-leading technology look like. Our clients like our web-based platform for it’s intuitiveness, ease-of-use, and low-maintenance costs. Their customers like our technology for the immediacy and uninterrupted reliability that cloud-based solutions and cutting-edge automation provide.

A recent report published by industry-thought leader Novarica identified MRS as an established player in the field, with significant staying power and customer experience. Being identified on the short-list of insurance-technology firms serves as confirmation that our approach to design and implementation is among the best in the world.

During an era where there is a potential to sell more policies, don’t leave yourself out of the game with stuck shoppers and money left on the table. Use top-grade technology that offers the efficiency and reliability that your clients and their customers demand.

Contact MRS for information about how our technology solutions can help your business take advantage of today’s unique opportunities.