Abstract
Introduction
The UK life and pension providers have realized he necessity of engaging with
consumers and not just developing relationships with intermediaries.
Scope of this research
- Examines the current shape of the life and pensions industry and explore
factors that are currently limiting new business.
- Assesses strategies to combat barriers to save for pensions, take up of
protection and investment policies, & identifies consumer segments to target.
- Provides actionable points to help life and pension companies find
innovative methods of customer retention and acquisition.
Research and analysis highlights
The life and pensions industry has recognized the need to engage with
consumers. Consumer attitudes are reflected in their purchasing decisions of
life and pension products and their behaviors have been affected by the
instability in the financial markets.
Consumers desire to have some level of control over the way their underlying
assets are handled and through which channels they are invested in as they
lose trust in financial institutions' ability to keep their assets safe.
Consumers are also less willing and able to spend money and sacrificing their
life and pension policies as a result.
The potential for government policies to induce people to consider investment,
retirement and protection plans is in question and the life and pensions
industry has continued to lose its relationship with consumers. Providers can
seize the opportunity both to target new customers and retain their existing
customers efficiently to win new business.
Key reasons to purchase this research
- Identify key consumer segments to target for life, pensions and protection
products.
- Access analysis documenting the trends behind consumers' recessionary
attitudes and behaviors.
- Provides action points to aid strategic decision making based on the
insights analyzed.
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