New Boston Mutual Whole Life Program Relies on Face-to-Face Meetings

By Allison Bell

Conversation February 06, 2023 at 12:53 PM

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Boston Mutual Life Insurance Company is working to sell whole life insurance in underserved communities.

The policyholder-owned, Canton, Massachusetts-based insurer recently began sending agents to get people covered by meeting with them at their kitchen tables, face-to-face.

Especially when an insurer is selling whole life policies that build wealth over time, not just term life policies that may become unaffordable after the original coverage term is up, the policy "needs to be explained," according to Joshua Police, the Boston Mutual executive in charge of the program.

One sign of the terrible gaps in coverage families face is families' use of crowdfunding to pay for funerals, Police said.

What It Means

The new Boston Mutual effort could be a laboratory for how to manage traditional, face-to-face sales efforts in the AI age.

The Program

Boston Mutual was founded in 1891. It may be best known for insurance sold through worksite marketing programs.

The company came up with the idea for the new program, which sells accident insurance as well as whole life, after organizing eight focus group sessions.

Organizers decided against trying to rely on a self-service website to sell the coverage.

"This is a crucial decision in people's lives," Police said.

Boston Mutual has a close relationship with brokers, but it will start out relying on employee agents for the new program, and those agents will give the applicants individualized advice.

It's launching the program in Massachusetts communities such as Fall River, Brockton and Boston. It hopes to expand the program into other, similar markets if the first phase goes well.

Joshua Police. (Photo: Boston Mutual Life Insurance Company)

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