In the life insurance industry, there are many processes we encounter daily that have the potential to be modernized and made more efficient. The current underwriting process is no exception, with outdated rules, blanket questions that don't allow for personalization, and long customer wait times that can take up to four to six weeks. This is a process that is ripe for disruption and last month, Cookhouse Lab invited underwriting professionals to try their hand at disrupting it in just 48 hours.
Every hero needs a villain, right? Similarly, every great idea, solution, or invention always needs a problem. And while the solution is often what gets all of the glory and attention, how we deal with said problem is just as, if not more, important. As Albert Einstein once said, “we can't solve problems by using the same kind of thinking we used when we created them”.