2016 Life-Annuity Consumer Markets Annual


Michael Warner
Conning, Inc.

Conning—Large Opportunity for Life Insurers through Market Segmentation

(Hartford, CT) June 20, 2016—Significant opportunities for life insurers exist, but the market for their products is increasingly fragmented, according to a new study by Conning, Inc.

“There is growing diversity in the consumer market for life-annuity insurers, and consumers’ needs are not being well addressed by the industry,” said Mary Pat Campbell, Vice President at Insurance Research at Conning. “The life insurance protection gap continues to widen, and our estimate now places that gap at more than $20 trillion. Consumers are placing a higher priority on retirement savings over life insurance, so the greater opportunity for insurers will be in savings products in the foreseeable future.”

The Conning study, “2016 Life-Annuity Consumer Markets Annual” reviews the consumer markets for life insurers with focused analyses of demographic segments, generations, and income groupings. The study also includes Conning’s estimates of the opportunities for insurers through an analysis of financial needs and resources for the U.S. consumer.

“Our analyses clearly indicate that great opportunity for life insurers exists, but that opportunity exists in pockets that require unique penetration strategies,” said Steve Webersen, Head of Insurance Research at Conning. “Insurers need to develop greater flexibility in their business models to address the unique market needs of a variety of demographic segments at varying age and asset levels. They are inhibited by their legacy infrastructures and distribution forces, but the leading companies have been addressing this issue and are positioning themselves for success in a fragmenting market.”

Conning’s “2016 Life-Annuity Consumer Markets Annual” is available for purchase by calling (888) 707-1177 or by visiting www.conningresearch.com.


Conning (www.conning.com) is a leading global investment management firm with approximately $103 billion in assets under management as of March 31, 2016.* With a long history of serving the insurance industry, Conning supports institutional investors, including pension plans, with investment solutions and asset management offerings, award-winning risk modeling software, and industry research. Founded in 1912, Conning has offices in Boston, Cologne, Hartford, Hong Kong, London, New York, and Tokyo.

*Asset total includes Conning, Inc., Conning Asset Management Limited, Conning Asia Pacific Limited, Goodwin Capital Advisers, Inc., Conning Investment Products, Inc. and Octagon Credit Investors, LLC which are all direct or indirect subsidiaries of Conning Holdings Limited (collectively “Conning”) which is one of the family of companies owned by Cathay Financial Holding Co., Ltd. a Taiwan-based company.