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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 under-penetrated 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.