The consumers spoke and the insurance industry heard them. And now industry executives are having nightmares featuring policy-stealing behemoths like Google and Amazon.
This is what LIMRA discovered when it asked 50 insurance industry financial executives about trends they are following that could transform their businesses. Short-term, those interviewed were bullish about business prospects. When asked to look further down the road, they expressed a fair degree of concern.
The LIMRA study echoes an earlier survey from Strategy&, which asked consumers whether they would consider purchasing insurance over the internet from a non-insurance source such as Amazon and Google. More than one in five said they would.
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Dan Cook
Dan Cook is a journalist and communications consultant based in Portland, OR. During his journalism career he has been a reporter and editor for a variety of media companies, including American Lawyer Media, BusinessWeek, Newhouse Newspapers, Knight-Ridder, Time Inc., and Reuters. He specializes in health care and insurance related coverage for BenefitsPRO.
