Now is the time for the life insurance industry to increase its relevancy and live its purpose by playing a critical role in the recovery of consumers and the wider economy. To play such a role, insurers will need to develop innovative products that align to consumers’ evolving needs and provide tangible value. In this webinar, we will share key insights and data from EY’s recent Insurance Consumer Survey that life insurance carriers can take action on. In late 2020, EY surveyed US consumers aged 25-55 who are current homeowners or renters and gained an understanding of the consumer impact across 4 different areas: financial position, health and work behaviors, product and purchasing preferences and social justice orientation. Among this segment, regardless of age, income and asset levels, there is a significant degree of financial anxiety and a lack of understanding about their insurance. Combined with a renewed focus on well-being, a greater value on social responsibility and a preference for digital engagement, there are significant opportunities for life insurers to innovate and build greater trust with customers/live its purpose of providing protection to all.
Bernhard Klein Wassink, Global Insurance Customer and Growth Offering Leader, EY
Nick Craven, President, Primerica Life Insurance Company
Fayaz Jaffer, Americas Insurance Product Innovation Leader, EY
Philip Trzcinski, Director, Employee Benefits Insights, Transamerica
May 4, 2021, 1:00 PM ET
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