Jan 25, 2024
Summary
In this episode of That Annuity Show, Bobby Samuelson, President of Life Innovators, discusses the current state of the annuity market and the challenges and opportunities it presents. He highlights the entry of new companies into the market and the different strategies they employ. Bobby also discusses the role of proprietary indices in annuities and the need for innovation in product development. He emphasizes the importance of technology in enabling advisors to tell the annuity story more effectively. Overall, Bobby provides insights into the changing dynamics of the annuity market and the evolving expectations of customers.
Takeaways
- New companies are entering the annuity market, with many focusing on multi-year guarantee annuities (MYGAs) as an entry point.
- The annuity market is highly competitive, and companies need to differentiate themselves through innovation in product development.
- Proprietary indices have played a significant role in the annuity market, but there is a need for more innovation and a focus on the underlying product structure.
- The annuity market faces challenges in attracting and retaining customers, and companies need to adapt to changing customer expectations and preferences.
- Technology can play a crucial role in enabling advisors to sell annuities more effectively and reach new markets.
Chapters
00:00 Introduction and Focus of Bobby Samuelson
03:45 New Entrants in the Annuity Market
07:43 Competition and Innovation in the Annuity Market
13:42 The Role of Proprietary Indices in Annuities
20:31 Challenges and Opportunities in the Annuity Market
27:12 Changing Customer Expectations in the Annuity Market
30:44 The Role of Technology in the Annuity Market
35:37 Conclusion and Closing Remarks