Insurance companies are facing a once-in-a-generation series of changes to their industry.
The demographic passing of the torch from baby boomers to Generation X and millennials is well underway and will continue to accelerate. In addition, trends in policy sales, premiums and ownership of insurance products have made the need to innovate more urgent and less discretionary.
Winners in the industry will be those that develop products, tools for analysis and distribution methods that fit in the current marketplace and appeal to a different generation of consumers.
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