The Life insurance industry has been hit by regulatory and compliance changes that have impacted how insurers do business. In addition, Life insurers face the same set of customer demands as every other industry. Millennials’ preferences for how they conduct business are impacting the behavior of all generations. In a survey of 1,000 American consumers, Nuance found that the customer service expectations of Millennial, Gen X and Boomer generations are now much more alike than they are different – the gap is shrinking.
As a software vendor, StoneRiver often hears the phrase, “Where do we go from here?” as insurers seek a new path that will lead them to growth. StoneRiver Vice President of Product Strategy Jerry Whetnall comments on that question in his recent article on Life insurance industry direction.
How is your company faring when it comes to doing business with today’s demands?