SOA Podcasts - Society of Actuaries Marketing & Distribution Section: Actuarial Alliances: Navigating the Shifting Landscape of Partnerships
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Feb 10, 2025 Join Dennis Li, Director of Business Development at Amplify Life Insurance, and Christopher Rzany, VP of Strategic Marketing Alliances at eFinancial and Fidelity Life, as they explore the evolving landscape of partnerships in the life insurance sector. They discuss the shift towards strategic collaborations, the importance of consumer insights, and effective outreach during critical life events. The conversation emphasizes innovative business models and the critical role of trust in nurturing successful long-term partnerships that enhance customer engagement.
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Partnerships as a Growth Strategy
- Partnerships are a growth strategy, enabling companies to achieve objectives by pooling resources.
- They are crucial in life insurance due to rising customer acquisition costs and evolving distribution.
Partnerships: B2B2C Relationships
- Partnerships are B2B2C relationships providing access to customer pools the carrier/distributor wants.
- They offer access to consumers at life stages making them receptive life insurance prospects.
Meeting Consumer Preferences
- Effective partnerships require offering solutions matching consumer preferences for online or advised purchases.
- A diverse product range is key; no single life insurance solution fits all.