Life insurers can sell direct to middle-income earners without depriving their established agents of vital business, said Accenture Senior Managing Director Michael Lyman. Historically, intermediaries have sold little insurance to the middle bracket, meaning that expanding direct-to-consumer selling in this market would have little impact on brokers. The new rules will also allow brokers and other middlemen who provide life insurance products directly to consumers to offer more comprehensive coverage than they are currently allowed to.
Life insurers can sell direct to middle-income earners without depriving their established agents of vital business, said Accenture Senior Managing Director Michael Lyman. Historically, intermediaries have sold little insurance to the middle bracket, meaning that expanding direct-to-consumer selling in this market would have little impact on brokers. The strategy would enable carriers to exploit digital channels to capture a part of the market that is more tech-savvy and ready to make purchasing decisions online, according to Lyman.