Life insurers cast the net wider for growth
Enter Gen X
Life insurance and annuity carriers looking to generate growth in a down market and side-step intense competition for the baby boomer segment may want to reconsider the scant attention paid to the formerly discounted, underinsured and underpenetrated generation known as Generation X.
Business as usual is likely no longer a prudent or profitable philosophy in the life insurance and annuity sector.
The onslaught of persistently low interest rates, volatile equity markets and a still struggling economy has prompted life insurance and annuity carriers to cast their nets wider, not just to generate growth in a down market, but to side-step intense competition for the more affluent baby boomer segment.
In "Life insurers cast the net wider for growth: Enter Gen X" we discuss the challenges carriers are currently facing, the incredible opportunities within the Generation X market, the importance of developing customer-centric targeting strategies and why life insurers seeking growth should no longer discount the size of the life insurance sales opportunity this underinsured segment represents.