While the market for selling life insurance and retirement annuities looks to be growing, increased diversity in demographic, lifestyle and consumer preferences is challenging insurers and benefit brokers and advisers to rethink their selling strategies and product offerings.
An underinsured U.S. market and increased number of individuals responsible for securing their own retirement income has left a great deal of opportunity for insurers that is not being fully realized, a new research report from the Hartford, Conn.-based Conning Inc. says. Strategies that have ridden the wave of the baby boomers may not be up to date, as assumptions developed for that age group may not be in line with the changing diversity of our nations population, it adds.
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