Product Innovation and Customer Targeting in Life and Pensions

Q1 2007

Publication Date	May 2007
Publisher	Datamonitor
Product Type	Brief
Pages	13
ISBN Number	not applicable
Product Code	DAT05135

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£895.00
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Summary

Introduction

This tracker covers product launches and service developments as well as marketing and product/service launches aimed at specific customer segments, such as ultra high net worths, NRIs, expats, retirees, entrepreneurs, women, etc.

Scope

Extensive research is conducted on the activities of 50 providers of life and pensions products, globally
The developments are analyzed to identify the key global trends in product development and customer targeting

Highlights

Providing an income in retirement is currently the key area for product innovation. Increasing pressures are being felt by life companies due to the shifting demographic and growing competition in this market. New providers are seeing this as a key area for future growth and are entering the market

Flexibility is the key theme for investments and product developments. Legislation across many markets is allowing broader classes of investment to be included in product wrappers and providers are taking advantage of these looser restrictions.

Customer loyalty and retention is a major issue throughout the life and pensions industry. Improving cross-selling and boosting the number of products held by each customer is a useful tool for improving retention. Providers can adopt a mixture of service and product based strategies to try and boost product holdings

Reasons to Purchase

Understand and gain insight into product development in the global market
Understand the motivations behind the product launches of your competitors
Keep up to date with product innovations and learn from the developments made by your competitors

Content

Table Of Contents
- The Roundup
- Customer Targting
- Product Innovation
- The Developments
- Aig
- Allianz
- Guardian Life
- Ing
- Lincoln National
- Manulife
- Old Mutual
- Prudential
- Prudential Us
- Standard Life
- Zurich
- Wesleyan Assurance
Appendix
- Methodology
Further Reading
- Ask The Analyst
- Datamonitor Consulting
- Disclaimer
- The Roundup
- Customer Targting
- Product Based Strategies Are Being Developed To Boost Cross-Selling
- Product Innovation
- A Number Of Innovations Are Being Launched In The Retirement Income Space
- Versatility Of Investment Is A Key Theme For Product Development
- Providers Are Focusing On Developing Products That Give Protection From Erosion Of Capital
- The Developments
- Aig
- Index-Linking Protects Aig Annuity Income Against Inflation - Feb
- Allianz
- New Pension Plan Offered In Indian Market By Bajaj Allianz - Jan
- Aviva Australia Offers Linked Navigator Accounts To Cut Customer Fees - March
- Aviva Australia Retirement Plan Now Allows In-Specie Contributions - March
- Guardian Life
- Variable Annuities Now Available With Minimum Withdrawal Benefit From Guardian Life - Feb
- Partnership Between Hsbc And Standard Life To Offer Sipp To Smes - Jan
- Ing
- Ing And Anz Launch "On-The-Spot" Life Insurance Product
- Lincoln National
- Lincoln Financial Group Introduces New Bank-Owned Insurance Product - Feb
- Manulife
- High Net Worth Individuals Targeted By New Manulife Department - Feb
- Manulife Subsidiary John Hancock Sets Up Retirement Income Business Unit - Feb
- Manulife Launches New Term Life Products In Indonesia - Feb
- Manulife Subsidiary John Hancock Introduces Variable Annuity With Free Withdrawals - Feb
- Manulife Subsidiary John Hancock Offers Reduced Premiums On Life Policy - Feb
- Manulife Targets Hong Kong's Baby Boomers With Guaranteed Withdrawal Benefit Insurance Product - Feb
- Old Mutual
- Enhancement To Old Mutual's Collective Retirement Account - Dec
- Prudential
- Prudential Company Jackson Offers Improved Variable Annuity Products And Retail Mutual Funds In The Us - Jan
- Prudential Us
- Prudential Financial Enhances Its Highest Daily Lifetime Five Annuity - March
- Prudential Financial Offers Money-Back Guarantee On New Individual Life Product - Jan
- Scottish Widows Introduces A Sipp Compliant With New Uk Regulations - March
- Standard Life
- Standard Life Extends Range Of Investment Funds For Life And Pensions - Feb
- Standard Life And Summit Offer Niche Life Product For Climbers - Jan
- Standard Life Introduces Dynamic Portfolios To Canadian Pensions Market - Jan
- More Protection For Standard Life's German And Austrian Customers - Jan
- Zurich
- Zurich Financial Services Group And Swiss Agency For Development And Cooperation Join Forces To Offer Microinsurance In Developing Countries - Feb
- Wesleyan Assurance
- Wesleyan Assurance Introduces Seventh Guaranteed Income Bond - Feb
Appendix
- Methodology
Further Reading
- Ask The Analyst
- Datamonitor Consulting
- Disclaimer