Exploring the Role of Insurance in Financial Resilience
In this session, we explore the role of insurance in financial resilience and new innovations that increase access to affordable coverage.
Consumers across all income levels struggle to weather financial shocks and build resilience. By understanding where customers need the most help, insurance providers have a major opportunity to deliver solutions that support customer financial health and business success. Explore the Financial Health Network’s free resources and tools for insurers to identify needs, develop products and services, and measure impact over time.
In this session, we explore the role of insurance in financial resilience and new innovations that increase access to affordable coverage.
Using a combination of survey data and consumer interviews, the Financial Health Network presents consumer trends and insurance product design strategies that can help Americans build financial resilience.
Many families lack any life insurance. Who holds life insurance, who should own it, and what can we do to better protect families?
When the unexpected happens — whether fire, hail, or human error — renters insurance can provide much-needed stability. But many choose not to purchase coverage, including in places most frequently and hardest hit by natural disasters, new research shows.
For the past five years, the US has been confronted with an average of 18 natural disasters per year. This year, as of August 15, natural disasters have already racked up losses of more than $1 billion each. With the climate changing, these events are becoming more frequent and with each event, many Americans take on financial damages.
Severe weather can disrupt financial health, yet fewer than expected Americans living in disaster-prone areas carry residential insurance.
Learn how the pandemic has transformed consumer perspectives on insurance in this insurtech trend forecast from PYMNTS.com and Franklin Madison Chief Financial Officer Preston Porter. Presented by Franklin Madison
We are all too familiar with the economic fallout that has resulted from the coronavirus pandemic, both at the individual and national levels. An estimated one in five workers has collected unemployment benefits and GDP decreased at an annual rate of 32.9% in the second quarter.
The insurance industry is going through an exciting time of innovation, growth, and transformation. Incumbent and startup providers both have the opportunity to look holistically at a person’s financial life to understand how insurance products can best support them. By doing this, they will attract more loyal customers.
Taking a consumer-focused approach to insurance, the Financial Health Network has conducted research on the insurance needs of mass-market consumers, current products and services available to meet these needs, and the biggest insurtech trends. Through this research, the Financial Health Network identifies tangible ways to improve insurance products and services for the financially struggling.