Conning--Life-Annuity Insurers Respond to Changing Distribution and Marketing Landscape
HARTFORD, Conn., June 9, 2015 /PRNewswire/ -- Insurers continue to respond to an evolving distribution landscape and are refining their social media and content marketing strategies, according to a new study by Conning®.
"Competition among insurers for traditional advisors continued to grow in 2014 and into 2015," said Scott Hawkins, a vice president of life-annuity, Insurance Research at Conning. "The number of insurance agents and registered representatives surpassed record levels last seen in 2008. However, the number of broker-dealers decreased for the fifth consecutive year, which may negatively impact variable annuity sales. Overall, the number of potential consumers per advisor decreased again in 2014, so insurers need more advisors to reach the same number of consumers. At the same time, these conditions increased competition among advisors."
The Conning study, "The Life-Annuity Distribution & Marketing Annual" examines key issues affecting distribution channels and highlights current marketing and advertising best practices in the life insurance and annuity industry. A detailed advertising expense analysis and details of sales by channel are included.
"Our analysis indicates that insurers continue to focus their social media strategy development and refine their content marketing as traditional advertising media becomes less impactful," said Steven Webersen, Head of Insurance Research at Conning. "While insurer-specific marketing initiatives continue to shift from traditional to digital, overall industry expenditures continue to rise as insurers seek growth in an improving economy. In fact, in 2014 large and midsized insurer groups increased their marketing expenditures by nine and eight percent, respectively, while smaller insurers exhibited a very strong fourteen percent increase."
"The Life-Annuity Distribution & Marketing Annual" is available for purchase from Conning by calling (888) 707-1177 or by visiting the company's web site at www.conningresearch.com.
About Conning
Conning (www.conning.com) is a leading investment management company for the global insurance industry, with more than $94 billion in assets under management as of March 31, 2015 through Conning, Inc., Conning Asset Management Limited, Cathay Conning Asset Management Limited, Conning Investment Products, Inc. and Goodwin Capital Advisers, Inc. Conning's unique combination of asset management, risk and capital management solutions and insurance research helps clients achieve their financial goals through customized business and investment strategies. Founded in 1912, Conning is focused on the future, providing clients with innovative solutions, leveraging its global capabilities, investment experience, and proprietary research. Conning is headquartered in Hartford, Connecticut, with additional offices in New York, London, Cologne, and Hong Kong.
Contact: Michael Warner
Conning, Inc.
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