Access the best thinking on the forces driving the industry. Here you will find articles devoted to the critical issues of the day, including such topics as distribution, technology, marketing strategies, retirement, globalization, demographics, financial integration, and products and services.
Please click the cover graphic on the right to launch the digital edition of LIMRA’s MarketFacts Quarterly.
We recently talked with Abhishek Bhatia, Chief Executive Officer of FWD Singapore. Prior to joining FWD, Abhishek spent 15 years with Prudential Plc in senior roles across the globe. Here, he shares his perspective on FWD’s direct-to-consumer program and the company’s vision for serving consumers. Download this article of MarketFacts
In this View From the Top article, Chip Castille — BlackRock’s Managing Director/Chief Retirement Strategist and Head of Global Retirement Strategy — shares his perspective on defining retirement success. He outlines a measure to benchmark an individual’s retirement needs and a group of four levers (goal, time, savings, and return) to adjust along the way. Download this article of MarketFacts
Increasingly, organizations across all industries are leveraging direct-to-consumer (D2C) strategies. In light of changing distribution and consumer preferences, it is critical that the financial services industry take a renewed look at retail (i.e., non-workplace) D2C models. This article provides a backdrop for companies seeking to develop a new or expand an existing D2C distribution program. Download this article of MarketFacts
Since the release of the DOL fiduciary rule proposal in April 2015, the LIMRA Secure Retirement Institute has served as a clearinghouse of perspectives from across the financial services industry. We began our ongoing series, called DOL Viewpoints, in March 2016 (just before the rule was final). This article highlights some of our findings from research with advisors, manufacturers, distributors, retirement plan providers, and consumers. Download this article of MarketFacts
Almost 9 in 10 financial professionals (FPs) start their business from scratch. So why are they leaving it to chance and not preparing for planned and unplanned exits from the business? Recently, LIMRA surveyed nearly 900 U.S. FPs and 1,600 consumers to explore their thoughts on business transitions. Our research uncovered a significant gap between client expectations and reality. Download this article of MarketFacts
This annual predictions article shares LIMRA thought leaders’ best assessment of the forces that may influence the industry in the short term. It is presented via five main themes: regulation, the changing consumer, technology, innovation, and talent management. We are confident that this information will help companies anticipate, and perhaps think differently about, the future. Download this article of MarketFacts
As retirement income planning continues to gain popularity, advisors and their firms will seek ways to offer more planning services. They also will need to assess the capabilities and expertise required to meet the demand. In a recent study of advisors and their retirement income planning practices, the LIMRA Secure Retirement Institute identified five key insights. Download this article of MarketFacts
At the 2016 DI and LTC Insurers’ Forum (hosted by LIMRA, LOMA, and SOA), a panel of experts offered their perspective on how technology can make the end-to-end disability income sales process easier for customers. They emphasized the benefits of leveraging technology and that various tools can be used individually or in combination with one another. This article shares initiatives from: Laura Hahn, Guardian; Kathleen Lyons, Disability Management Services; and Kristin Pagliero, Unum. Download this article of MarketFacts
The U.S. DOL fiduciary rule is proving to be a turning point for the insurance and related financial services industry. The rule has a significant direct and indirect impact on independent insurance distribution, adding new pressure to systemic challenges the channel already faces. This article examines independent distribution networks in detail through this lens. Download this article of MarketFacts
LIMRA’s recent Ownership Study (across data from 1960 to 2016) offers the industry encouraging information on Millennials. Overall, it finds they are among the most likely to own life insurance — and their ownership rate is growing. This article takes a deeper dive into their ownership story, including individual versus group coverage, coverage amounts, coverage adequacy, how they buy life insurance, and their attitudes toward life insurance. Download this article of MarketFacts
What role does technology play in the delivery of advice? LIMRA research shows that while consumers’ use of technology-based solutions is growing, they still have concerns about addressing all of their financial needs with technology. This article examines the wide spectrum of solutions that can help consumers manage their finances: basic, intermediate, and advanced. Download this article of MarketFacts
Advances in technology and consumers’ embracing the digital marketplace have inspired industry optimism that we can better serve underpenetrated markets efficiently and cost-effectively. Unfortunately, LIMRA’s consumer research continues to portray a less promising outlook for selling life insurance online — at least with how the internet is currently being leveraged. Our findings point to a very specific type of consumers who are likely to buy coverage online. And they aren’t exactly who we had in mind. Download this article of MarketFacts