UK’s Life Insurance leads sector is likely to sustain stability in 2020 despite pressures that may disrupt growth in the industry. Leaving the European Union is said to have certain impacts, but insurers are ready with their post-Brexit strategies. Actuaries, credit rating agencies, and other financial analysts predict flexibility and positive outlook for this year.
Enhanced Online Solutions
B2C data marketing was highlighted in 2019. More self-help and personable tools on the Internet may be introduced to help customers avail information and bespoke services efficiently. This would lead to major changes in underwriting methods, which endeavours to improve client relations, investment yields, and closing sales.
New Products and Innovations
Some major providers would offer simpler products having improved benefit packages such as income protection. Critical illness plans are also projected to improve sales with increased awareness on having added protection in case of unforeseen health issues.
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