TowerGroup: Life Insurance Industry Must Shift Product Mix, Adjust Distribution and Focus on Cost Containment During Economic Crisis

Although the U.S. life insurance industry is not as deeply impacted by the current economic crisis as other segments of the financial services industry, the interconnectedness of banks, asset managers, brokerage firms, and insurers themselves means it is not immune. New research from TowerGroup finds that the economic events of the past year have caused rapid changes in consumer behavior and have diminished the overall attractiveness of some life and annuity insurance products. These changes will force insurers to rapidly shift their product mix and refocus their distribution to remain competitive.

TowerGroup: Life Insurance Industry Must Shift Product Mix, Adjust Distribution and Focus on Cost Containment During Economic Crisis
Source: MarketWatch