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Change Management Emerges As the Most Urgent Challenge Facing the Global Life Insurance Industry

Change management has become the most important challenge in the minds of C-suite executives in the global life insurance industry, followed closely by the need to improve customer experience. Results from the new biennial global survey of C-suite life insurance executives finds a shift in priorities as economic, technological, regulatory and consumer changes press life insurance companies to reassess their business model.

COVID-19 Drives Shift in Priorities: Technology Cited as Top Challenge Facing the Global Life Insurance Industry

As COVID-19 prompted life insurance companies to accelerate their digital adoption to ensure continuity of business and serve their customers, it exposed the challenges of life insurers’ legacy systems, siloed operations and the continued need to modernize. As a result, life insurance executives cited technology as both the top challenge facing their companies and the external force driving change in the industry, according to the latest C-suite life insurance executive survey by LIMRA and Boston Consulting Group (BCG)

Focus on Consumer Behavior Will Help Companies Understand Key Drivers for Individual Life Insurance Sales

WINDSOR, Conn., Feb. 12, 2018 – Using predictive modeling, data scientists at LIMRA’s new Center of Excellence for Data Analytics have identified factors that influence individual life insurance buying behavior and have built profiles of types of customers who are likely to buy.

New Industry Study: Social Distancing Measures Challenge Advisors’ Practices

Not being able to meet in person with their clients during the pandemic ranks as the biggest impact to their business for 9 in 10 advisors according to a recent study. Market factors including low interest rates and increased market volatility have also been disruptive to advisors’ practices.

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