1.
Top-10 Technology
Trends in Life Insurance:
2019
November, 2018

2.
Life Insurance Trends 2019 | November 2018 © 2018 Capgemini. All rights reserved.Life Insurance Trends 2019 | November 2018 © 2018 Capgemini. All rights reserved. 2
Top 10 technology trends in life insurance in 2019
Life insurance trends are shaping up a digitally integrated ecosystem of the future
DigitalIntegrationwithEcosystemPartnersrequires
DataDrivenCompliance
Intermediaries (such as Banks, Agents, Brokers), Third Party Service Providers, and Collaborators (such as Accelerators and InsurTech firms)
Deep
Customer
Open
Insurer
Intelligent
Insurer
Customers
Real-Time Customer
Data through IoT
Real-Time Interaction with
Customer using Digital Tools
Insurance
Company
Accelerated
Underwriting Process
Improving Customer
Journeys Using
Analytics
Accelerator Program
for Innovations
Enhance Experience
of Channel Partners
Expanding into New
Distribution Channels
Delivering Services in
Real-Time Using AI
Customer’s Health
and Lifecycle Coach
Dynamic and Flexible
Product Offerings
Services Based on
Customer Life Events
Seamless Sharing of
Information in Real-Time
using Digital Tools
Source: Capgemini Financial Services Analysis, 2018

3.
Life Insurance Trends 2019 | November 2018 © 2018 Capgemini. All rights reserved. 3Life Insurance Trends 2019 | November 2018 © 2018 Capgemini. All rights reserved.
Life insurance firms are offering broad and flexible
products leveraging digital technologies
Source: Capgemini Financial Services Analysis, 2018
On-demand
products
Hybrid products
Products for
untapped segments
Life insurers need to explore unconventional products and distribution of those
products in order to grow revenue and profitability in a stagnant environment

4.
Life Insurance Trends 2019 | November 2018 © 2018 Capgemini. All rights reserved. 4Life Insurance Trends 2019 | November 2018 © 2018 Capgemini. All rights reserved.
Life insurers are developing tailored, value-added
products and services based on customer life events
Source: Capgemini Financial Services Analysis, 2018
Quick access to
accurate customer
data
Robust predictive
analytics tools for
anticipating the
needs of a
customer
accurately
Ability to reach the
customers with an
appropriate
offering via an
omnichannel
approach
Prerequisites for offering life event-based products

5.
Life Insurance Trends 2019 | November 2018 © 2018 Capgemini. All rights reserved.Life Insurance Trends 2019 | November 2018 © 2018 Capgemini. All rights reserved. 5
Life insurers are offering proactive risk control services
to become customers' health and lifestyle coach
Source: Capgemini Financial Services Analysis, 2018
 Greater customer insights
 Reduction in claims costs due to a shift
in mortality table
 Improved underwriting profitability
 Better customer engagement and
experience
For Insurer
 Better health and lifestyle by
preventing/controlling risks
 Convenient and personalized services
 Rewards such as discount in premiums
and/or recognition among peers
For Insured
Key Benefits

6.
Life Insurance Trends 2019 | November 2018 © 2018 Capgemini. All rights reserved. 66Life Insurance Trends 2019 | November 2018 © 2018 Capgemini. All rights reserved.
Life insurers are leveraging technology to expand cost
effectively into newer, digital channels of distribution
Source: Capgemini Financial Services Analysis, 2018
Distribution-focused
InsurTech firms
Pseudo-direct distribution
Retailers, telecom service
providers, etc.
Traditional
insurance channels
of agents and
brokers

7.
Life Insurance Trends 2019 | November 2018 © 2018 Capgemini. All rights reserved. 777Life Insurance Trends 2019 | November 2018 © 2018 Capgemini. All rights reserved.
Life insurers are looking to enhance customer
experience by delivering services in real-time
Source: Capgemini Financial Services Analysis, 2018
Superior Interaction
Experience for Customers
Better Service Availability
and Easier Access
Tailored Products and
Services
Greater Process Efficiency
and Accuracy
Operational Cost Reduction

8.
Life Insurance Trends 2019 | November 2018 © 2018 Capgemini. All rights reserved. 88Life Insurance Trends 2019 | November 2018 © 2018 Capgemini. All rights reserved.
Life insurers are enhancing the experience of their
channel partners using digital tools
Source: Capgemini Financial Services Analysis, 2018
Knowledge
Platform
Educate,
Encourage, and
Inspire the Agents
Customer
Lifecycle
Management
Platform
Empower Agents
with Tools to
Improve their
Efficiency

9.
Life Insurance Trends 2019 | November 2018 © 2018 Capgemini. All rights reserved. 99Life Insurance Trends 2019 | November 2018 © 2018 Capgemini. All rights reserved.
Life insurers are implementing accelerated
underwriting processes using automation solutions
Source: Capgemini Financial Services Analysis, 2018
Collaborate with data providers
to pre-fill customer data
Generate accurate risk profile of
customer using third party data
Reduce the number of
questions
Replace medical test
requirements with innovative
risk assessment techniques
1
2 3
4

10.
Life Insurance Trends 2019 | November 2018 © 2018 Capgemini. All rights reserved. 1010Life Insurance Trends 2019 | November 2018 © 2018 Capgemini. All rights reserved.
Life insurers are using advanced analytics—including
behavioral analytics—to improve user journeys
Source: Capgemini Financial Services Analysis, 2018
Intuitive processes
Greater process efficiencies
Better customer satisfaction
and loyalty
Enhanced customer lifetime
value

11.
Life Insurance Trends 2019 | November 2018 © 2018 Capgemini. All rights reserved. 1111Life Insurance Trends 2019 | November 2018 © 2018 Capgemini. All rights reserved.
Life insurance firms are exploring accelerator
programs to stay at the forefront of innovations
Source: Capgemini Financial Services Analysis, 2018
Better Opportunities to
Identify Synergies in
Collaboration
Utilizing Complementary
Strengths
Faster Development of
Technological Competencies
for Insurers
Faster Product Development
for InsurTech Firms

12.
Life Insurance Trends 2019 | November 2018 © 2018 Capgemini. All rights reserved. 1212Life Insurance Trends 2019 | November 2018 © 2018 Capgemini. All rights reserved.
Life insurers are increasing efforts to integrate with
ecosystem partners
Source: Capgemini Financial Services Analysis, 2018
Breaking Siloes
of Information
Reducing
Process Friction
Improving
Agility
Ability to Reach
Customers
Seamlessly
Addressing Intense
Competition
Catering to
Increasing
Customer
Expectations
Key Benefits

13.
Life Insurance Trends 2019 | November 2018 © 2018 Capgemini. All rights reserved.
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