Get Ahead of the 2019 Industry Trends
Jan 08, 2019
The end of the year brings about amazing market research on where the industry is headed into the new year. Here are some recent findings from Deloitte’s annual Insurance Industry Outlook for 2019:
Finding 1: Consumers want to do self-directed research when they are interested in buying life insurance. However, after the research, they report still wanting to talk to an advisor.
Solution 1: As an advisor, you can not only advertise your services to clients, but provide them with educational marketing pieces and videos online. If a consumer finds an educational piece on your website or social media page, they will be more likely to call you up when they are ready to discuss a purchase. You can easily download educational consumer marketing pieces through our agent resource portal: myAdvisorCloud.
Finding 2: Twenty-five percent of consumers are interested in going direct and buying life insurance online, but only 10% actually complete an online purchase.
Solution 2: Reps at Deloitte surmise that this number drops because consumers realize that a life insurance purchase is significant and decide to seek advice from a professional before completing a purchase. Again, making sure you have a strong online presence through your website and social media pages will allow you to gain more exposure to consumers searching for life insurance in your area.
Finding 3: The life insurance industry is better prepared to serve high income individuals while under-serving the middle class market.
Solution 3: Financial advisors should be offering products that appeal and benefit middle-class families and individuals. Term products with built-in living benefits, IULs that can provide a tax-free income later in life, and even Final Expense products could be useful for consumers in this income range.
To learn more about our services and products that will help you make the best of 2019, give one of our Agent Relationship Managers a call at 480.296.0169.