Description: This presentation, session number 86PD, took place at the 1999 Spring Meeting of the Society of Actuaries, held May 24-25 in Atlanta. “Banks are buying life insurers, life insurers are marketing through banks, mutual fund companies are taking over the retirement product area, and insurers are acquiring thrifts. Diverse sectors of the financial services industry are melding together at increasingly rapid rates.” The panel discusses the major issues and trends surrounding the growing consolidation and convergence. Discussion from participants is included. From the Record of the Society of Actuaries, Vol. 25, No. 1.

Description: 1999 SOA Regional Meeting, Atlanta. The stated objective of this session was to provide a good feel of what financial service convergence means. It included a legislative update of what was happening in Washington in 1999 and discussions on customer segmentation, on bancassurance products, and distribution channels within a bank.