Online Policy Applications Present New and Challenging Issues

There is no denying that millennials are changing the way many industries do business, and the insurance industry is no exception. Unlike previous generations, millennials are less likely to obtain insurance coverage through an insurance agency, and more likely to apply for coverage online. While in many respects this is a positive change for both the consumer and the insurance industry (e.g., easier access for consumers, lower overhead costs for insurers), online applications present unique issues which may result in coverage questions that put insurers and policyholders at odds.