Three Lessons The Life Insurance Industry Learned During The Pandemic

Laura Boylan is the Head of Underwriting Solutions at Haven Life, a digital life insurance agency backed by MassMutual.

For decades, life insurance sales in the United States have been declining, with fewer Americans purchasing life insurance and others remaining underinsured. In late February of this year, however, the Covid-19 pandemic and the resulting financial instability that ensued reminded individuals of their own mortality and the need to protect their loved ones financially. As a result, there has been an uptick in consumer interest and purchase of life insurance products. 

At the same time that demand for life insurance spiked, buyers were locked down at home and afraid to step out into the physical world, making face-to-face sales and in-person medical exams nearly impossible and requiring the industry to navigate new ways of doing business. 

These seismic shifts have led many in the life insurance industry to question traditional

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How a Personal Loan Could Help You Get By During COVID-19

If you need money during the pandemic, a personal loan could be a good solution.

Americans are struggling financially during the COVID-19 pandemic. Millions have lost their jobs. Many have seen their incomes decline. And others are dealing with sudden expenses, like child care because schools are remote or the additional technology costs of working from home.

If you’re having a hard time covering your basic bills or paying for sudden expenses and you don’t have a savings account to tap, then borrowing money may be your next best bet. And in that regard, a personal loan can really help.

What’s a personal loan?

A personal loan lets you borrow money for any reason you might need it. You can take out a personal loan to pay off another debt, cover home repairs, or simply keep up with your general bills.

Personal loans are unsecured — they’re not tied to

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COVID-19 stokes the chatbot hype in financial services

COVID-19 and its associated containment measures are accelerating digital transformation and automation in financial services. Customer service has been under enormous pressure, and financial services firms such as Nationwide Building Society in the UK and the Royal Bank of Canada have launched chatbots to deal with the unusually high volume of requests. However, digital teams in financial services firms should remain wary of deploying chatbots and voice assistants faster than their customers are ready for them, or than their systems can support. 

To better understand chatbot capabilities in financial services, we evaluated the chatbot offering of over 150 global financial services firms. We also analyzed consumer sentiment and adoption of chatbots in Europe and North America. We found that although artificial intelligence is evolving fast, today’s chatbots are not yet equipped to handle any, and all financial tasks. 

Digital business executives planning to roll out chatbot or voice should be

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4 Expert Tips to Internationalize Your New Business

Internationalization is an ambitious but attainable step in any startup’s lifecycle. Once considered to be at the tail-end of a business journey, companies nowadays have the luxury of being able to internationalize relatively soon after they launch. The internet has been the biggest accelerator of startups establishing an overseas presence faster, while the recent COVID-19 crisis has proven that there is even greater scope for small ventures to successfully branch into new markets.





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According to a survey from Wells Fargo, 87 percent of US companies are optimistic about expanding internationally for long-term growth. However, having the tools to expand, and knowing how to do it properly—without falling into legal trouble, failing to understand consumer culture or ignoring technological differences—are two separate things. If you rush into foreign waters unprepared and insensitively, you could jeopardize your existing success and reputation. 

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Here’s how to

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