Consortia Study Reports Available for Purchase

Underserved Markets: Priorities and Preferences

About the Study:

Diversity and Inclusion continues to be a topic of concern and focus across our membership, as the financial services industry desires to increase the level of engagement with historically underserved markets. This study seeks to understand the unique needs, attitudes, and perceptions of various diverse client segments; evaluate how the needs of these segments might differ at various life stages; and uncover consumer preferences for products. The series includes five reports — Asian Americans, Hispanic Americans, Black Americans, LGBTQ+, and the U.S. general population for comparison.

Publish Date: December 2023

Key Topics:

• Financial attitudes and concerns
• Retirement preparedness
• Sources of financial advice and knowledge
• Financial product ownership and reasons for (not) owning
• Insurance coverage
• Perceived difficulty with the life insurance buying process
• Preferences for method of buying life insurance (in person, online, hybrid)
• Use of and preferences for financial professionals (level of trust, importance of working with an FP who shares your cultural background/community/values/ language)
• Comfort with technology

Benefits and Takeaways: Purchasing this study will help inform companies with the following:

• Understand the unique needs, attitudes, and perceptions of various diverse client segments
• Evaluate the needs of these segments may differ at various life stages
• Uncover consumer preferences for products, financial professionals, and technology

Sample Details:

• Asian Americans (N=800), Hispanic Americans (N=1,305), Black Americans (N=800), LGBTQ+ (N=610)

Cost:

• $7,300 per segment report or $23,700 for all five reports.

Understanding the Small Business Owner Opportunity

About the Study:

There are 33.2 million small businesses in the U.S., which accounts for over 99% of all US businesses. Learn about the priorities of small business owners and how insurance products and services can address their needs. Small business owners often represent a complex sale, and the results of this study serve to guide advanced sales strategies. Although the research focuses on life insurance, it asks about additional products such as annuities, long term care, and others.

Publish Date: December 2023

Key Topics:

• Financial knowledge and attitudes
• Use of financial professionals (type of primary FP used, attitudes towards FPs)
• Financial priorities, challenges, and concerns
• Product ownership and coverage
• Succession, transition, and retirement planning (confidence, level of preparedness, funding sources)
• Notable differences by gender, generation, years in business, gross revenue, and other demographics

Benefits and Takeaways: Purchasing this study will help inform companies with the following:

• Attitudes and perceptions regarding life insurance
• Top financial priorities, challenges, and concerns of small business owners
• Succession/transition/estate planning of small business owners

Sample Details:

• N=1,000 Small Business Owners with 0-99 full-time employees and $250,000+ in gross revenue

Cost: $15,500