Despite projected record-high term life sales in 2024, individual life insurance faces persistent challenges in consumer awareness and market penetration. Many consumers still view coverage as too expensive and remain unsure of what type or amount to purchase. To address these issues, insurers are increasingly using reinsurance to reallocate capital from underperforming segments. Carriers are also encouraged to adopt generative AI for fraud prevention and streamline operations through modernized systems, data, and analytics—enhancing underwriting processes and improving experiences for customers, agents, and employees alike.

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