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The Disruptive Impact of FinTech on Retirement Systems$
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Julie Agnew and Olivia S. Mitchell

Print publication date: 2019

Print ISBN-13: 9780198845553

Published to Oxford Scholarship Online: October 2019

DOI: 10.1093/oso/9780198845553.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 06 March 2021

FinTech Disruption

FinTech Disruption

Opportunities to Encourage Financial Responsibility

Chapter:
(p.61) Chapter 4 FinTech Disruption
Source:
The Disruptive Impact of FinTech on Retirement Systems
Author(s):

Julianne Callaway

Publisher:
Oxford University Press
DOI:10.1093/oso/9780198845553.003.0004

Technological advances have enabled enhancements in the financial services industry such as improved digital sales opportunities, enhanced communication with consumers, expanded accessibility of services, and improved tools for financial planning. These advances are democratizing services once available only to wealthy, extending older peoples’ ability to live independently, and improving their quality of life. This chapter presents a series of case studies explaining how the life insurance industry can use technology and new data to streamline the life insurance underwriting process and improve trust and transparency between insurers and customers. It also discusses how new content can enable on-demand education and simplify end of life planning, as well as the difficulties people face when saving for the types of purchases that can lead to credit card debt and challenge retirement savings. We also touch on the potential for wearable technology to improve wellness and manage chronic diseases.

Keywords:   innovation, insurance, underwriting, longevity, wearable technologyrobo-advisor

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