Overview

• Term life insurance is a low-cost option in its category, hence, a popular life insurance policy.
• Some startups are aiming at changing/impacting the life insurance sector.
• This sector has not experienced as much innovation as other sectors of health. One factor is the industry language, the thought process, and how transactions are handled.
• Any new approach should seek to:
• Put the client/customer at the center of the business.
• Implement a direct-to-client approach by simplifying the product options and the purchase process.
• Align with the unique needs of the different generations. Meeting the needs of baby boomers, millennials, and generation zers.
• Align with technological advancements whereby the mobile phone is the focal point and social media is the main advertising/customer relation/public image channel.
•  Disprove orthodoxies that have defined how business is done in this industry.

• Startups are attempting to resolve carrier problems and any barriers.
• Examples of startups that are aimed at term life insurance are Ladder are Insquik.