The World is Spinning Fast: Where Does Life Insurance Fit?
By John Hilton
Insurance News Net
Target identifies newly pregnant women based on their buying patterns. The top purchases that indicate a pregnancy include lotion and a big handbag.
Target can do this through high-level data mining, explained Jennifer Golbeck, director of the School Intelligence Lab at the University of Maryland.
"For millions of people, Target knows everything they've ever bought at Target for their entire lives," Golbeck said during the kickoff session at the 2019 Life Insurance Conference.
Golbeck was preceded by LIMRA/LOMA CEO David Levenson; Susan Neely, CEO of the American Council of Life Insurers; and Dave Rengachary, senior vice president and medical director, U.S. mortality markets, RGA.
Golbeck's talk focused on how technology invades our lives in ways we are usually unaware. Target was even surreptitious about its pregnancy focused mailers, including several other products along with items meant to entice expectant mothers.
The Target story was not the only fascinating tidbit to emerge from the morning session. Levenson was first up and said the industry needs to focus on service and reaching the uninsured and underinsured.