In the last decade, the number of Americans with life insurance coverage has declined nearly 15%. Today, nearly half the population has no coverage at all — and even those who do may not have enough to support their families.
That means about 60 million U.S. households are uninsured or underinsured, according to financial research association LIMRA. The average coverage gap is estimated at $200,000 per household, or $12 trillion across the board.
Enter ConsumerOptix. Founded in 2018 by serial entrepreneur James O’Hara, the Dayton-based insurtech startup is determined to bridge the coverage gap by changing how insurance distributors interact with their customers.
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Story excerpt provided by Dayton Inno.
Written by Jacob Fisher.
Originally published October 23, 2021.