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Friday April 25th 2014

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Life and Annuity Insurers Accelerate Pace of Change in Marketing and Distribution Strategies

RetireesSavingsLife insurer consumer marketing and distribution strategies have been evolving rapidly, and the pace of change will accelerate as insurers continue their focus on high net worth individuals while gearing up to deal with a rapidly changing population and new technology, according to a new study by Conning. “In addition to the growing importance of digital strategies, insurers are investing more in brand marketing, as they juggle both distributor and consumer relationships,” said Steven Webersen, director of research at Conning. “Distribution strategies focus on increased diversity in the distribution force itself, while also developing direct-to-consumer models. As insurers deal with these issues and the investments required to successfully compete, understanding the strategies, tactics and expenditures of their competitors is crucial,” according to a recent report in the Sacramento Bee.