Not (just) a channel

Over the past decade, there has been increasing competitive pressure on insurance carriers in many markets around the world. In the US, for example, the market for life insurance has been dynamic and treacherous for most players. The result has been a long-term decline for life insurance. Against th...

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Bibliographic Details
Published in:LIMRA's MarketFacts Quarterly 2001-10, Vol.20 (3), p.48
Main Author: Hollen, Kenneth E
Format: Article
Language:English
Subjects:
Acquisitions & mergers
Business process reengineering
Call centers
Competition
Consumers
Customers
Digitization
Distribution channels
Distribution costs
Electronic commerce
Insurance applications
Insurance industry
Insurance policies
Internet
Life insurance
Underwriting
Universal life
Value added
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Summary:Over the past decade, there has been increasing competitive pressure on insurance carriers in many markets around the world. In the US, for example, the market for life insurance has been dynamic and treacherous for most players. The result has been a long-term decline for life insurance. Against this backdrop, the Internet was cast as something of a savior for the industry. The Internet has done remarkably little to relieve these pressures so far. The main reason most Internet initiatives have been glancing blows over the past three years is that they did little to alter the fundamental customer experience or industry economics.
ISSN:1535-4040