We have to use technology to defuse the world's long-term care time bomb, by getting the LTC planning gears unstuck.
Anders Sörman-Nilsson, a futurist, gave us that advice yesterday, in Raleigh, North Carolina, at the 2022 Intercompany Long-Term Care Insurance Conference.
Sörman-Nilsson told us that those of us still in the long-term care insurance and long-term care planning communities have already shown that we know how to adapt to change.
"The pandemic has been the biggest human behavioral change project ever seen," Sörman-Nilsson told us.
Now, he said, insurers and advisors must adapt further, by reducing the friction that keeps individuals and society from preparing for the aging of the population.
Here are some of his ideas for how to do that.
1. Use smart phones more.
By for example, letting customers submit long-term care insurance claims through their phones.
2. Predict what consumers' new problems will be.
We need to try to offer consumers' solutions for the problems that are likely to come up soon, not just for the problems they have now.
3. Build trust by telling stories.
Stories can guide consumers' thinking from the known to the known.
