Life insurance is often seen as a “set and forget” product with little or no engagement, but does it have to be this way? We don’t think so. There are opportunities to reward customers and connect in meaningful ways. Tim Jarvis, our Senior Insight Manager shares some more thoughts on how this can be done, and the potential benefits to brands that stand out and build engagement.

From tracking your health to picking and choosing when you are covered, there’s never been more options available. Many brands offer customers discounts on their premiums and rewards for following through with their self-improvement goals. Suddenly, financial security isn’t the only goal in mind. Vitality offers customers Apple Watches at a discounted rate to encourage people to take a greater interest in their health and fitness. Customers can fund the remaining balance of their watch by embracing an active lifestyle, earning Vitality points. Reviti provides customers with a “life app” to encourage positive lifestyle changes. Customers are encouraged to quit smoking, take up meditation, even cook their meals at home.

Meanwhile, DeadHappy have thrown the formula for life insurance out of the window, offering cover for specific events or short bursts of time, without the hassle of cancelling a traditional policy. The questions asked are short and humorous, and you can even specify a “death wish” – exactly what you want the money to be spent on. Death wishes can be anything from mortgage payments and funeral expenses to getting a tattoo or sending your ashes to space. It’s a whole new look at the possibilities that life insurance can offer, within a low hassle, low commitment framework.