It’s a risky world out there, and the more that risk can be spread out, the better things can be for everyone. Insurance gives people the opportunity to pool their resources so that, if one or more of them run into trouble, they are able to rely on the rest of the group to help make it right.
Widespread use of wearable health monitors means that physically active customers are eligible for discounts on life insurance plans.
Advances in technology have made a major impact on insurance products and costs. For example, since self-driven cars have proven to be safer than regular cars, owners of self-driven cars are eligible for discounts on both auto and life insurance. They are far less likely to be hurt or killed in a car accident. Another example is the popularity of wearable fitness devices. Widespread use of wearable health monitors means that physically active customers are eligible for discounts on life insurance plans. The insurance product managers of 2030 have to be well versed in these technologies and comfortable promoting them to their customers.
Advances in technology have also impacted the type of protection customers need. Insurance product managers will have to develop products that protect against identity fraud, personal data theft, or catastrophic information loss. They can be great partners for building peace of mind and ensuring that when you hit one of life’s rough spots, you don’t get bounced too hard.
Job Requirements / Skills
Insurance product managers should have strong people skills. They should be detail oriented and able to keep up with changing policy and procedures. Insurance product managers should be trustworthy, knowledgeable, and curious about new trends, technologies, and developments that can impact their customers’ insurance needs.