By Adam Vanevenhoven
The Marketing and Distribution (MaD) Section has kicked off our Underserved Life Insurance Markets research project. The goal of the project is to create a think piece that will include research into how to define the true life insurance need of the lower income and middle income consumer along with a review of their financial prioritization. The think piece will also include a survey of industry experts. The survey will ask the experts to explain why current solutions haven’t worked and what future attempts might work better. The project oversight group (POG) is a well-rounded group that includes a former state insurance commissioner, a current actuary at the Social Security Administration, a Medicare expert, and various industry experts who work for companies that are currently targeting underserved markets.
MaD-Sponsored Meeting Sessions
MaD is sponsoring sessions covering a wide variety of topics at the 2014 Annual Meeting & Exhibit. Those topics include:
- A discussion of middle market consumer attitudes toward life insurance in the United States and China.
- Retirement dilemma—longevity product or saving money for health costs?
- Consumer analytics to make the sales process more efficient.
- Communicating to distribution and distribution support staff.
MaD is also co-sponsoring a networking event with the Product Development Section at the annual meeting:
- Session 1: Product Development and Marketing & Distribution Sections Joint Networking Event: Football-Themed Networking
- This football-themed networking opportunity will give you a chance to keep up with the Sunday afternoon NFL games while you mingle and build your professional connections. You can enjoy some tailgate-themed food and beverages while you connect with old friends and make new ones.
- This event is open to all meeting attendees and their registered guests. There is a nonrefundable fee of $30 for Product Development and Marketing & Distribution Section members and $50 for all others. Please include the additional fee with your registration.
If you have feedback about any meeting sessions or would like to share ideas for future events, please contact any current member of the MaD council to share your thoughts.
Since the last newsletter, MaD sponsored the following webinar:
- The Underserved Middle Market—Redefining the Opportunity, June 19, 2014
For anyone interested in getting involved with MaD, a great way to get started is by becoming a friend of the council. By doing so, you can join in on monthly conference calls with the council and find additional opportunities to participate in section activities. To become a friend, simply contact any member of the council.
Do you have an interest in helping the MaD Section bring value to its members while meeting others with similar professional interests? A great opportunity to make an impact exists each year. Each May 31 official candidate lists are due to the SOA office and section elections begin in August. Three positions on the MaD council are filled each year during this year’s elections. If you’re interested in running for one of those positions, please contact any current member of the council at any time.
Adam Vanevenhoven, FSA, MAAA, is a director at Prudential. He can be contacted at firstname.lastname@example.org.