Life insurers know that value is trapped in the middle market. Pursuing it could mean up to $12 billion in revenues and half a billion dollars in profit annually. Yet over the last 40 years, most traditional agents have migrated to the more affluent market where commissions are higher.
To overcome middle market barriers and grow new revenue, insurers must create activation points—or buying triggers. Behavioral economics, coupled with digital technologies to drive engagement, can help. Insurers can tap into human psychology, emotions and social dynamics that drive how, why and when we make choices to meet unmet needs.
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