[September 22, 2014] |
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A.M. BestTV: Prudential Financial Individual Life Insurance CEO Kent Sluyter Says Industry's Challenge Is Relevance
OLDWICK, N.J. --(Business Wire)--
The sixth in a series of special interviews A.M.BestTV is
running in September to support Life Insurance Awareness Month is an
interview with Kent Sluyter, chief executive officer of individual life
insurance and agency distribution at Prudential Financial, Inc.,
who said insurers and producers must focus on showing that life products
can be relevant to consumer needs at multiple life stages.
Sluyter spoke about some of the problems facing the industry today. "The
purchase rate for life insurance is at a 50-year low," he said.
"It is imperative to change the conversation with insurers and advisers,
because obviously we are not reaching either group successfully."
Sluyter added that changing the conversation involves emphasizing the
other benefits that life insurance can provide. "There are a lot of
benefits associated with life insurance beyond death benefits, which we
need to emphasis more, such as using life insurance for retirement
planning, i.e., supplemental retirement income and for chronic illness …
we need to highlight the importance of living for today and planning
for tomorrow."
Click here to view the video program: http://www.ambest.com/v.asp?v=sluyter914
Recent episodes of A.M.BestTV include:
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Rendez-Vous de Septembre: From September 13-18 A.M. Best
attended the Monte Carlo Rendez-Vous de Septembre. To see entire
interviews conducted throughout the conference visit: http://www.ambest.tv/montecarlo.
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AIG Life Distribution Chief John Deremo: Consumers Need More Useful
Life Products: John Deremo, head of distribution for life
products, American International Group, said longer life spans
and limited savings mean Americans will require life products that
perform multiple functions: http://www.ambest.com/v.asp?v=deremo914
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MassMutual Executive Vice President Michael Fanning: Face-to-Face
Life Insurance Selling Is Vital: Michael Fanning, an executive
vice president at MassMutual Financial Group, said his
organization is continuing to invest in its captive sales force,
saying it remains the most effective channel for life and protection
products: http://www.ambest.com/v.asp?v=fanning914
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John Hancock Life Insurance Company President Michael Doughty to
Life Industry: Keep It Simple: Michael Doughty, president and
general manager of John Hancock Life Insurance Company, says he
believes buying life insurance can be hard, with too many
questions, so in response, his company is looking to technology,
providing useful information and new products as a solution: http://www.ambest.com/v.asp?v=doughty914.
A.M.BestTV covers exclusive A.M. Best information and
reports, targeted topics and key developments in the (re)insurance
industry every Monday, Wednesday and Friday. Sign up for alerts of
episodes at http://www.ambest.com/multimedia/ambtvsignup.html.
View A.M.BestTV episodes at http://www.ambest.tv.
A.M. Best Company is the world's oldest and most authoritative
insurance rating and information source. For more information, visit www.ambest.com.
Copyright © 2014 by A.M. Best Company, Inc. ALL RIGHTS
RESERVED.
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