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Introduction to Online Distribution Conference by Alan Ryder


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Session 1 and introduction from Acceptiv Online Distribution Conference Sept 2017.

Published in: Economy & Finance
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Introduction to Online Distribution Conference by Alan Ryder

  1. 1. Online Distribution Alan Ryder September 11, 2017
  2. 2. Declining insurance ownership • A strong secular trend of fewer sales. • Older age sales for larger amounts prop up the top line The ‘middle market’ in North America has become increasingly orphaned. • Economics have made conventional distribution systems ineffective. • Younger buyers prefer online buying and self service. • This issue is top of mind with most life insurers in North America. • This is a market disruption and alternative markets can emerge. September 11, 2017 Online Distribution 2 The Problem: The Underserved Middle Market
  3. 3. Increases the accessibility of life insurance • Self serve, adapting to the new economy • Cost effective and highly scalable • Replaces high variable costs with modest fixed costs Issues to overcome • How do we attract prospects and sell online? • Life insurance has historically been viewed as ‘sold rather than bought’. • How do we deliver point of sale underwriting and issue? • Point of sale underwriting involves a material re-engineering of the underwriting process and requirements. • This is not just ‘automated underwriting’ but an integration of the sales and underwriting processes. September 11, 2017 Online Distribution 3 The Solution: Online Distribution
  4. 4. September 11, 2017 Online Distribution 4 2017 Online Distribution Symposium