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Annuities Carriers Defining Distribution and Simplifying Product Offerings

New Novarica brief examines challenges and opportunities in recent annuities trends

Boston, MA (Aug. 9, 2017) – Recent trends in the annuities insurance market are creating both challenges and opportunities for insurers, including low interest rates, regulatory changes, lower fees, and negative market perceptions. In a new executive brief, Emerging Trends in Annuities, research and advisory firm Novarica outlines the current state of the annuities market and key trends in the responses of annuities carriers to market challenges.

Carriers are adapting to these recent trends with strategies to approach the market with simplified product sets and the technological capabilities to enable and support a defined, flexible, and well-connected distribution. Through these strategies, annuities insurers can position themselves for success in the future.

“The days of annuities giants offering an overwhelming volume of complex, tough-to-understand annuity products are gone,” says Chris Eberly, Vice President of Research and Consulting at Novarica. “Creating and managing a clear strategy seems to be the favored direction for carriers in the market. This simplification will support a lower learning curve for distribution and customers as well as reduce expenses associated with releasing and supporting products.”

A preview of the brief is available online at https://novarica.com/emerging-trends-in-annuities/, and desk copies of the full report are available to qualified media. Please contact [email protected] or call Rebecca Wojciechowicz at 617-897-1923 for more information.

About Novarica

Novarica helps more than 100 insurers make better decisions about technology projects and strategy through retained advisory services, published research, and strategy consulting. Its clients include more than 100 property/casualty and life/annuity insurers. Its knowledge base covers trends, benchmarks, best practices, case studies, and vendor solutions. Leveraging the expertise of its senior team and of nearly 400 CIO Research Council members, Novarica provides clients with the ability to make faster, better, more informed decisions. Its consulting services focus on vendor selection, custom benchmarking, project checkpoints, and IT strategy. More information at www.novarica.com.

Source: Novarica

 

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