Last month, we attended the LIMRA 2018 Supplemental Health, DI & LTC Conference in sunny San Diego! We were excited to get in and mix it up with other professionals in the supplemental insurance space and discuss new innovations in the industry, and share how Limelight Health is transforming the sales, underwriting and enrollment process.
Our very own Garrett Viggers took the stage on Tuesday to speak on the topic of Real-Time Quote-to-Enrollment Technology. Garrett inspired the crowd to think anew about leveraging technology to transform our world from a static, paper-based institution to a digital landscape with incredible potential for automation and streamlining. It’s telling that 98% of US insurance brokers still rely on paper, and that the vast majority of US insurer core systems are legacy; most have been in place for decades, many in use since the 1960s! In addition, $375 billion is wasted annually on paper-based transactions in the insurance industry. The time has well and truly come for an overhaul and modernization to save our resources and our sanity.
We spoke to so many industry professionals who long for a better way. Take Bryan Burke from Sunlife, who said “If only we could move from a quote to enrollment in a matter of days, it would revolutionize the whole experience.” We are thrilled to reveal that it’s not only possible, it’s what Limelight is doing right now! Underwriter & Product Specialist Jenna Toedter from Securian added, “We do an ET state requirement approach, so just limiting those state variations and automating that process would be really beneficial.” We are proud to be part of creating a future where the quote-to-enrollment process is seamless, simple, and dare we say satisfying?
“I am fascinated with the opportunity for AI and automation to provide a better sales experience for distribution and broker customers. Most everyone is talking about a better end consumer experience, but if the sales experience isn’t enjoyable, then consumers, especially employers and employees, won’t be able to enjoy the products at all,” said Garrett. Throughout the conference we were inspired and challenged by the opportunities for expansion in automation that lie ahead…truly the possibilities are endless.
Thank you LIMRA and sponsors for hosting an exceptional conference and for the opportunity for Limelight Health to share our vision with the community. We’re excited to keep watch on how technology continues to transform the supplemental insurance industry and we’re looking forward to next time!