According to a study from Global Atlantic Financial Group, 43% of Americans don’t have life insurance. The same study found that two-thirds of Americans are thinking about their own mortality due to the coronavirus pandemic, and only 33% believe that they have enough life insurance or other assets to protect their family in the event of their own death.
Big data is playing a prominent role in life insurance this year. Interest in coverage has surged during the pandemic, but for many people, social distancing mandates took the life insurance medical exam off the table. As consumers look for quick, noninvasive ways to buy policies, insurers have turned to accelerated underwriting, a process that uses algorithms instead of exams to evaluate applicants.
In a 17-4 vote, with one abstention, a panel of advisers to the Food and Drug Administration recommended Thursday that the COVID-19 vaccine being developed by Pfizer and BioNTech be authorized for emergency use during the coronavirus pandemic.