Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Introduction to Online Distribution Conference by Alan Ryder

272 views

Published on

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

Published in: Economy & Finance
  • Be the first to comment

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

×