Retail Life Insurance Industry at a Crossroads: Findings from EY Executive Survey
With premiums declining, many question whether the industry can survive in its current form. EY's retail life insurance executive survey examines the challenges and opportunities.
LIMRA Survey: More than Half of Financial Executives Surveyed Predict Outside Disruption in Life Insurance Market
Fifty-seven percent of financial executives believe an outside source (Google, Amazon, etc.) will be a disruptive force in the life insurance market within the next 5 years according to a new LIMRA report.
Meeting Millennials Where They Are
Millennials expect companies to enable them to interact and buy online, for their websites to make everything easy and convenient. Yet relatively few companies make it possible for them to complete the entire purchase process online. Further, only 46 percent of life and annuity companies provide electronic signatures for customer service transactions. It seems clear that in many cases, companies are not meeting Millennials’ expectations.