Insurance Industry

US Insurance Industry Shows a Positive Growth Post COVID-19, Net Premiums Totaled $1.32 trillion in 2019

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With business, activity continues to pick up, and COVID-19 restrictions are relaxed or removed in many areas despite a rise in variant infections. In addition, most US insurers are looking to capitalize on the innovations they implemented during the pandemic to go virtual digital.

Many companies shifting focus to growth.

In the 2021 insurance outlook published in December 2020, when we noted that while most companies were looking to contain spending rather than cutting budgets across the board, many were shifting allocations to bolster strategic initiatives, such as technology modernization, that could help them adapt to the pandemic in the short term while positioning them for longer-term growth.

Technology to the rescue.

Given the need to digitize and virtualize their operations overnight, it’s no wonder that even though 52% of respondents trimmed discretionary spending, often in areas such as talent, only 6% canceled or postponed long-term technology projects, while 96% are accelerating digital transformation initiatives.

Bestow comes into the picture.

Texas-based ‘Bestow‘ is an insurance technology company offering term life insurance accessible and affordable to families. We liked the pricing structure they offer; rates start at just $10/mo, with coverage from $50K – $1.5M. Age from 18-60 is eligible for coverage. The online process is fast and easy; just a few questions, and you’re done.

With Bestow, it is a good option to save the future of your family.

 

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