Navigating through the complexity in Life Insurance to Create Simplified Products that Your Customers Understand and Love to Use


Irene van den Brink

COO, Digital Insurance Group

If you think of life insurance and you focus on the word life it should be one of the most exciting and important things to have an interest in. Nowadays, however, in all honesty, it is one of the most complex and thus difficult things to consider. This results in global penetration being around 3%.

Why is this?
1. Clients do not understand what they buy and why they need it.
2. It is often a ‘pushed product’ in case of a mortgage which gives a bitter aftertaste.


“Start off with a separate

offering, then integrate or

migrate once mature”


Insurers are challenged in this field, as they would like to sell more but are stuck in their maze of systems, their structures and processes. Fortunately, more and more see the rise of new technologies and new distribution channels as a big opportunity to start something new in life.  At Digital Insurance Group we often talk to insurers and banks that are looking to find their way out of their maze either by starting something new or by really simplifying their existing business. And from what I have seen in insurance so far, a hybrid model often works best: start off with a separate offering, then integrate or migrate once mature.

So what is it that customers are after? An easy product, one that they understand, can buy quickly, is flexible to life changes as this is one of the products which people use longer. In the past six months we enabled a newco to build their digital broker proposition: with a super easy product that you can buy in 3 minutes, with a customer portal where you can log in and manage everything. It was designed to allow self-service but with an agent portal to step in whenever needed. Using integrations with external databases on e.g. customer profiles, fraud, identity and payment systems the whole process is short and seamless. Imagine the potential: with all the data that is becoming available. And what really excites me: what if we could add lifestyle things to engage with clients?