With apologies to Charles Dickens, David Leifer, senior counsel for the American Council of Life Insurers (ACLI at www.acli.com), suggests e-commerce in the life insurance industry is a tale of two worlds. Life insurers are examining consumer-focused applications they can bring to the Internet and other electronic capabilities that will further business, says Leifer. But on the other hand, he adds, its also evident there are some [existing] things they need to work on.

The ACLI represents life insurers and fraternal benefit societies before federal and state policymakers, insurance departments, and the courts. Member companies account for 75 percent of life insurance premium in the U.S. As part of its annual conference in October, 44 member companies were surveyed on various e-commerce issues.

One area troubling insurers is electronic signatures. Despite passage of the E-Sign Act by Congress, insurers have lingering concerns about what is the right technology to use, reports Leifer. There are still some concerns about the legal ramifications of doing things electronically, he says. There is definitely work for us to do as an association to identify barriers to e-commerce and eliminate them.

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