Other parts of this series:
- Life insurers are not providing sufficient digital support for their advisors
- Today’s life insurance clients are more informed, more involved and seek greater transparency
- Life insurance agents are increasingly moving to a holistic advice model
- Building a foundation for growth: How to grow in the aggregator channel
- Without stronger heir retention strategies, life insurers stand to lose $210 billion
Among the pressures that life insurers face, there have been fundamental shifts in what customers expect from their advisors.
As part of the Accenture North American Insurance Financial Advisors Study, we spoke with 300 financial advisors across North America about the factors affecting the life insurance industry. In addition to revealing how digital has changed the interactions between advisors and clients, the survey shows that clients themselves have changed. Notably, they are better informed, more involved in decision-making and expect greater transparency from their advisors.
In this podcast, my colleague Patrick Lyons shares some of the details of the research.
Ultimately, it is up to the advisors themselves to address these shifts in customer expectations and deliver a level of service that meets them. However, it is up to life insurance and wealth management firms to provide the support, training and tools that their advisors need to deliver an optimal customer experience.
- Register to download Voice of the Advisor Executive Summary: Growing life insurance through the fusion of advice-based selling models and digital (PDF).
- Email me to discuss how Accenture can help you support advisors to better meet the needs of today’s life insurance client.