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Annuities Research

Digging into the Customer Experience: Annuities

Corporate Insight’s Annuity Monitor keeps clients on top of developments in the annuity business. Our value-added annuities research digs deeply to identify and assess specific aspects not only of the customer experience, but also the ways in which leading insurers market their annuity products to independent financial advisors.

Life Events PDF Print E-mail
Sections dedicated to information about “life events” on the public and advisor websites address the opportunities and challenges that individuals face over the course of life. This information illustrates how firms’ various financial products and other practices can help different life events. In this report, we review the life events content and planning resources found on Annuity Monitor firms’ public and advisor sites.
 
This Annuity Monitor report focuses on the life events’ information and promotional materials provided on the coverage firms’ public and advisor websites. Nine firms were selected for evaluation on three key criteria:
  • Accessibility of Life Event information
  • Quality and depth of Life Event topics and content
  • Life Event materials and multimedia resources
Only 45% of Annuity Monitor firms are currently providing information about life events on their public and advisor sites. The majority of the firms offer life event information within a learning center section that is accessible from quicklinks on the public homepage. A wide variety of life event topics are provided by the Annuity Monitor firms, with the most popular topics including change/loss job, getting married, having a child and death of loved one. We also discovered that a number of additional, and less likely, life event topics were also in focus, such as divorce, planning for special needs and the empty nest situation. Three firms provide the most extensive selection of life events among the Annuity Monitor firms.
 
Life events marketing materials were limited on both the public and advisor sites. Most of the Annuity Monitor firms utilize hyperlinks within their life event pages to direct users to additional educational resources and individual product pages. Six of the firms covered in this report provide links to contact financial professionals on the life events pages, offering prospective clients the opportunity to take the next steps.
 
Additional key findings include:
  • Three firms provide access to life events from an exclusive main navigation menu tab.
  • Getting married, Having a child and Changing jobs were the most common topics.
  • Direct product recommendations on life events pages were offered by 63% of firms.
  • Six firms featured direct contact links to financial representatives on life events pages.
 
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