LIMRA[not an acronym] (formerly Life Insurance and Market Research Association)
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"AI is a natural extension of predictive [model] building, and companies will look to technology to utilize their vast amount of data and to enhance the existing stills of data scientists," LIMRA says.
LIMRA recognizes 10 professionals under age 40 who demonstrate leadership and innovation, supporting distribution with LIMRA member companies.
Life insurers told LIMRA that they sold 3% fewer individual life policies in the third quarter than in the third quarter of 2016.
Two-thirds of brokers surveyed by Limra said they receive and use online marketing materials from carriers during their sales process, and 85% believe that their employer clients are looking for more help in communicating their benefit plans to employees compared to three years ago.
Available later this fall, LIMRA is developing a training course on the DOL Fiduciary Rule to help sales professionals and other client-facing staff navigate their way through the new regulation and stay in compliance.
According to LIMRA SRI researchers, while this is the fourth quarter in a row that the sales topped $1 billion, it is actually the first time sales have beat the billion-dollar mark in the first quarter of any year since 2008.
"Forty percent of people who bought a policy and were happy about their experience said it was because of a simple buying process," said Kristen Gillis, analyst, LIMRA International Research.
"Voluntary benefits are on a growth trend, in part because they allow employers to enrich their employee benefits portfolio at no direct cost," said Ron Neyer, assistant research director, LIMRA distribution research.
The increase, the LIMRA research reveals, boosted premium revenue for all individual life insurance products by one percent in the second quarter.
It's another avenue for LIMRA to publish industry research but obviously, as a brand new blog, the archives are pretty limited.
workers who make $40,000 to $99,999 a year, two-thirds put less than 5% a year into retirement savings and 85% save less than 10%, LIMRA said.