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What’s Tomorrow’s Distribution Strategy?

Distribution is a question and concern on every life insurance and annuities company’s mind. What new channels should we experiment in? What should our distribution strategy look like? What types of consumers are most important to our strategy, and how do we reach them? What type of products are most important to our strategy, and what consumers are they fit for? All of these questions are being pondered today in an effort to define the distribution strategies of tomorrow.

The direct-to-consumer channel has become the focus for many as they answer these questions. Their goal and focus is the consumer in all aspects of the carrier’s business (IT, marketing, journey, experience, etc.) and no longer the agent. It isn’t that the agent has taken a backseat to the entire insurance and annuity sales process, as they are a vital part of the strategy (still bringing in the most premium); it’s just that the agent channel has matured, and carriers are putting more emphasis on the newer channels to meet the customer of tomorrow’s needs.

The best success however, doesn’t come from a single channel but rather from multiple channels. The strategy of tomorrow is about blending channels. It’s about using multiple D2C channels to reach a broader audience. It’s about utilizing the agent channel to support the D2C initiatives and fostering relationships where appropriate. It’s about creating products to fit the channels. By doing this, channel conflict is a thing of the past, and each channel has its own role in the overall distribution strategy. Success is inevitable!

Learn more about the life insurance and annuities carrier’s distribution strategies of today and their plans for the future based on the results of a carrier survey by clicking here