The consumers spoke and the insurance industry heard them. And now industry executives are having nightmares featuring policy-stealing behemoths like Google and Amazon.
This is what LIMRA discovered when it asked 50 insurance industry financial executives about trends they are following that could transform their businesses. Short-term, those interviewed were bullish about business prospects. When asked to look further down the road, they expressed a fair degree of concern.
The LIMRA study echoes an earlier survey from Strategy&, which asked consumers whether they would consider purchasing insurance over the internet from a non-insurance source such as Amazon and Google. More than one in five said they would.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Dan Cook
Dan Cook is a journalist and communications consultant based in Portland, OR. During his journalism career he has been a reporter and editor for a variety of media companies, including American Lawyer Media, BusinessWeek, Newhouse Newspapers, Knight-Ridder, Time Inc., and Reuters. He specializes in health care and insurance related coverage for BenefitsPRO.
