How might insurers crack the code to sell insurance direct online to small-business consumers without involving an agent or broker, or fend off competitors who go this route?
Insurers looking to up their game on customer service should follow the lead of tech-focused companies when it comes to establishing closer, more interactive ties with their policyholders.
Insurers are in the business of risk, but many may have an organizational blind spot when it comes to dealing with more strategic threats that could disrupt their value proposition and business model.
The rise of a do-it-yourself mindset among many online shoppers is unlikely to cut annuities intermediaries out of the loop anytime soon, research from Deloitte has found.
Annuity sellers must address several fundamental, systemic challenges to increase market penetration, widen their prospect base, and propel sales on a steadily upward trajectory over the long term, a recent Deloitte consumer survey revealed.
The majority of Americans remain insecure about their retirement prospects, often because they don't work with a financial professional to put a formal savings, investment, and insurance plan together to account for their "golden" years, Deloitte's most recent research revealed.
It's still too early to tell whether federal health insurance reforms are having any significant impact on workers' compensation costs. But it's fair to say that so far, some of the worst-case scenarios raised as the Affordable Care Act went into effect have not yet come to pass.
A confluence of demographic and economic trends make longevity risks perhaps the biggest growth opportunity for insurers, but writing such long-tail coverage profitably also might present the industry with its biggest challenge in the decades ahead.
The U.S. property and casualty industry may be nearing a crossroads in its approach to climate change, perhaps prompting a more proactive strategy to limit the threat to the environment and insurance company bottom lines over the long term.