Life Insurance Awareness Month

VIDEO: Life Insurers Must Adapt to Changing Families

AXA’s Nick Lane- Better products, better preotection

OLDWICK, N.J., September 25, 2014—The eighth in a series of special interviews A.M.BestTV is running in September to support Life Insurance Awareness Month is an interview with Nick Lane, senior executive director and head of U.S. life and retirement at AXA.

Lane spoke about how life insurers need to adapt their products to the needs of the modern American family in order to provide better protection for them.

 

 

According to Lane, AXA is concentrating on three big issues:

  • providing dignity in retirement to Baby Boomers, since they account for 70% of the wealth in the
    United States
  • offering proper financial protection to modern U.S. families, since less than 40% of consumers are properly insured
  • promoting financial literacy and the role it plays in helping consumers make good decisions as well as driving public policies

Lane also discussed what AXA is doing to address these issues, including the development of new products and investments in technology and education.

Click here to view the video program

Recent episodes of A.M.BestTV include:

  • 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 here.
  • Lincoln Financial Group’s SVP Mike Burns: Life Products Have Moved Beyond Death Benefits: Mike Burns, senior vice president of life solutions at Lincoln Financial Group says life insurers are looking to emerging products that might combine traditional mortality benefits with coverage for illnesses and long-term care; visit here.
  • Prudential Financial Individual Life Insurance CEO Kent Sluyter Says Industry’s Challenge Is Relevance: Kent Sluyter, chief executive officer of individual life insurance and agency distribution at Prudential Financial, Inc., says insurers and producers must focus on showing that life products
    can be relevant to consumer needs at multiple life stages; visit here.
  • AIG Life Distribution Chief John Deremo: Consumers Need More Useful Life Products: John Deremo, head of distribution for life products, American International Group, Inc. said longer life spans and limited savings mean Americans will require life products that perform multiple; visit here.
life insurers need to adapt their products to the needs of the modern American family in order to provide better protection for them

 

 

 

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A.M. Best Company is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.