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Vive 5 trends webinar presentation

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We cover 5 key life insurance industry trends and how they can have a positive impact on the way you do business, and share an exciting demonstration of Vive, the online term life insurancesoftware platform that will allow you to capitalize on some of these trends.

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Vive 5 trends webinar presentation

  1. 1. 5Major Life Insurance Industry Trends
  2. 2. Introduction Corrie Freudenstein Marketing & Communications Director Brokers' Service Marketing Group Deb Ross, Assistant VP & Internal Sales Specialist Vive
  3. 3. 1. Technology Driven Policy Procurement The insurance industry is undergoing fundamental changes; driven mainly by rapidly advancing information technology. This change can be summarized in 3 main themes. 1. “Big Data” 2. Technology to Develop Client Relationships 3. Price Comparison to P&C Industry
  4. 4. 1. Technology Driven Policy Procurement Three capabilities have become critical for business growth; leveraging data in real time, paperless operations and electronic channels.
  5. 5. 2. No Need to Meet Face-To-Face According to a recent LIMRA report, 50 percent of consumers prefer buying life insurance without a face-to-face meeting, however, they still want an advisor relationship. Previously, producers were required to witness client signatures and meet the proposed insured in-person. While some companies still mandate this, most insurers now allow for applications to be completed over the phone using digital eSignatures and even voice signatures.
  6. 6. 3. A New Consumer Outlook on Life Insurance People want to buy life insurance!… but…65% percent of Americans say they won’t buy because they believe it’s too expensive. Over the past decade, the price of term insurance has decreased substantially. Consumers can now get coverage for less than the cost of their cable or phone bill.
  7. 7. 4. Life Insurance with No Medical Exam & Faster Underwriting It is well known that bringing up health issues and mortality with clients can be difficult for advisors. With the shift of life insurance to an asset class, this struggle continues for asset managers as well as the traditional life insurance agent.
  8. 8. 5. Affluent Millennials Demand Attention Affluent Millennials are reshaping the future of the financial services industry and causing drastic changes to be made by financial professionals. “$59 trillion in personal wealth... will equip the 15.5 million-member generation with exceptional power.”
  9. 9. www.getvive.com (888) 456-3223
  10. 10. www.getvive.com (888) 456-3223
  11. 11. Additional Resources Learn to Earn - Financial Advisor Blogs on blog.bsmg.net: 4 Ways to Combat Millennials Misconceptions About the Cost of Term Life Technology Trends for Advisors in 2016 Why Your Clients Aren't Buying Life Insurance 10 Reasons Why Life Insurance is a Viable Asset Class 5 Key Facts Reveal Why Advisors Should Focus on Affluent Millennials 6 Steps To Building A Successful Life Insurance Sales Strategy Have your clients said no to Life Insurance? Top 5 Financial Advisor Marketing Tips

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