A.M. BestTV: Sell to Millennials in Ways They Want to Buy, Says Vantis Life CEO

Business Wire

OLDWICK, N.J.--(BUSINESS WIRE)-- In this ^A.M.BestTV episode, Peter Tedone, president and chief executive officer, Vantis Life Insurance Company (Vantis Life), said the company is developing new ways to reach younger customers through the distribution channels that they prefer to be reached. Click on http://www.ambest.com/v.asp?v=tedone617 to view the entire program.

“The insurance industry has to look at new ways to reach these individuals,” said Tedone. “This Millennial generation is not sure how to access life insurance, and they do not like the process they see when they do access it.”

Tedone added that none of the traditional ways of buying insurance appeal to technology-oriented Millennials today.

“This is why you have the advent of new sorts of initiatives, such as accelerated underwriting and technology-based applications. These are much more in sync with what Millennials want to see.”

Tedone believes it is important to recognize that Millennials are not a homogenous generation that all think and act alike. “There are many subcomponents to the generation, and the insurance industry has to understand that first and foremost,” he said.

Recent episodes of ^A.M.BestTV include:

Insurers Embrace Liability-Driven Investing Says Conning’s Mainolfi:: Daniel Mainolfi, managing director, Conning, said insurers and pension fund managers have become proficient in investing against long-term liabilities, which can reduce overall volatility: http://www.ambest.com/v.asp?v=mainolfi617.
Assignment of Benefits Issue Drives Florida Claims Costs Higher: Chris Draghi, financial analyst, A.M. Best, reviews a Best’s Special Report, which looks at Florida's practice of allowing contractors to assume responsibility from insureds for insurance repairs and how insurers are responding: http://www.ambest.com/v.asp?v=floridaaob617.
Insurers Set for Frenzied Activity Ahead of New Reporting Standard: Attendees at the 11th Annual Asian Insurance CFO Summit said International Financial Reporting Standard 17 will require companies to rebuild their information systems, and change how they capture and manage data and respond to regulations: http://www.ambest.com/v.asp?v=asiacfo1617.
MPLI Writers See Profits Squeezed, Insured Base Shrink: Panelists in a recent webinar examining results for the U.S. medical professional liability sector said the market faces stiff competition, a shrinking client base and a rapidly evolving health care environment: http://www.ambest.com/v.asp?v=medmalpanel617.

^A.M.BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View ^A.M.BestTV episodes at http://www.ambest.tv.