A Path to an Insurance Purchase

A recent Deloitte survey attempts to answer some of the questions behind the life insurance sales gap conundrum.

Insurance Networking News, July 1, 2012

INN Editorial Staff

The life insurance sales gap between insurers and consumers presents a constant conundrum for agents and C-suites alike.

When Deloitte LLC conducted a life insurance survey for its recent report, titled "The Voice of the Life Insurance Consumer: What Makes Prospects Tick?" one of highlights that emerged is something that can be controlled by insurers: convenient shopping. This carries even more significance when the survey mentions that 46 percent of buyers and 66 percent of non-buyers had not looked for life insurance independently.

Despite the fact that, among non-buyers, 33 percent saw "no offer to sell them a policy" from any channel and 26 percent claimed the "buying process was too difficult," overall, most (65 percent) buyers were somewhat or extremely satisfied with their purchases.

And the respondents reinforced that they like working through their employers and with insurance companies to receive their coverage.

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