Distribution disruption and the customer revolution: Responsibility for retirement planning and ancillary benefits has the risk of being pushed from governments and employers to individual consumers. Since customers have become accustomed to the convenience of digital education, research and transactions when they want, where they want and through any channel they want, distribution of products is changing rapidly."The role of advisers is evolving because their advice is only one source that customers use for planning," said Yoder. "Since customers now have control, they demand more information and convenience from many channels when choosing life and pension products. In addition, customers are demanding advice about a range of financial products, as opposed to a narrow set of insurance products."
Life Insurance 2020: Rapidly-changing Industry Has Four Ways To Survive, According To PwC Report
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