Weekly Newsletter - 12.18.2024

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PODCAST OF THE WEEK 🎧

EDITOR’S PICK 🎯

The Strategic Imperative of Revenue Enablement📖

Your sales teams are more equipped with training content than ever before, yet adoption and measurable impact are on the decline. Sound familiar?

🚩 The Problem:

• 92% of businesses report less than 30% repeat engagement with enablement content.

• Traditional approaches are failing, leaving teams unprepared and businesses at risk.

🎯 The Solution:

Integrated revenue enablement is changing the game with measurable results:

• ✅ 30 days faster to first deals for new reps.

• ✅ 20% boost in deal velocity.

• ✅ 36 days faster organizational change implementation.

🚀 This is especially critical for industries like MedTech, where rapid adaptation and consistent performance directly impact revenue and compliance.

📖 Download Hive Perform's latest ebook to learn:

• Why traditional enablement fails.

• How integrated revenue enablement drives measurable success.

• The proven strategies to align your GTM teams and unlock growth.

👉 Don’t get left behind—equip your business to win.

INDUSTRY INSIGHTS 🌐

AI and Tech Transform Insurance Industry: Key Trends for 2025

The insurance industry is on the brink of a transformative era, driven by advancements in artificial intelligence and technology. As we approach 2025, insurers must prioritize operational effectiveness over pricing to enhance margins and reduce costs. This shift will necessitate a focus on productivity and customization in claims and underwriting, ensuring superior client service. The aging workforce presents a challenge, but robust upskilling platforms leveraging AI and digital tools will bridge the skills gap. By aligning with modern employee expectations through flexible work arrangements, insurers can retain talent and maintain competitiveness.

The role of AI in reshaping the insurance landscape cannot be overstated. It will disrupt traditional outsourcing models by automating routine tasks, significantly reducing outsourcing jobs. Intelligent workflow agents will optimize work distribution, cutting costs and enhancing efficiency. This shift will see AI systems managing tasks like document processing and data entry, traditionally handled by offshore providers, with AI training occurring domestically.

The emergence of trainable agentic platforms will further transform the industry, facilitating seamless onboarding for digital and human workers. These platforms will provide essential training materials and procedures, enabling AI to operate with minimal human intervention. The first movers in this technological race stand to unlock a $1 trillion global insurance opportunity, addressing the underinsured coverage gap through innovative AI-driven products and data analytics. This transformation promises to meet evolving consumer expectations and risk landscapes, positioning insurers for unprecedented growth.

How Cloud Technologies Can Transform Insurance For Aging Populations

As populations age, insurance needs grow increasingly complex. By 2050, over a quarter of North American and European populations will be aged 65 or older. This demographic shift creates both challenges and opportunities for insurance agents, as the over-65 group encompasses diverse health, financial, and lifestyle profiles. These differences make it harder to generalize and highlight the need for tailored insurance solutions.

Cloud technology and AI are transforming how agents address these complexities, providing tools to optimize customer interactions and streamline decision-making. Two key advancements are transforming the industry:

1. Generative AI for Real-Time Customer Insights:

   GenAI equips agents with instant, comprehensive views of customer portfolios, renewal schedules, and personalized product suggestions based on health, income, and spending data. Future AI tools may even act as copilots, guiding sales conversations and dynamically adjusting offerings in real-time to maximize opportunities.

2. Cloud-Based Analytics for Precision Personalization:

   Advanced analytics synthesize data from diverse sources—health metrics, spending habits, and even IoT devices—to create detailed customer profiles. This enables agents to offer highly customized solutions, such as wellness programs, chronic care coverage, or intergenerational plans, tailored to individual needs.

Agents don’t need to build these systems themselves but should advocate for insurers to invest in these technologies. By leveraging AI and cloud-based insights, agents can better serve the aging population’s complex needs, driving success for themselves, their clients, and the insurers they represent.

INDUSTRY NEWS 📰

MetLife New Strategy: Expanding Frontiers with Innovation and Growth

MetLife’s New Frontier strategy aims for $25 billion in free cash flow by expanding Group Benefits and leveraging international markets. The strategy, named with ChatGPT help, builds on past successes. Innovations include app upgrades, new partnerships, and a Bermuda-based reinsurer, Chariot Re, targeting $10 billion in liabilities by 2025.

Protective Life and iPipeline Enhance Efficiency with Digital Automation Partnership

Protective Life partners with iPipeline to enhance digital efficiency for financial professionals. By integrating the iPipeline Laser App, Protective streamlines life insurance and annuity processes, boosting productivity and client service. This collaboration underscores the necessity of digital transformation in the industry, offering a competitive edge and fostering growth.

Allianz Unveils Sconset Re: A New Life Reinsurance Platform

Allianz has launched Sconset Re Ltd., a Bermuda-based reinsurance platform, to manage Fixed Indexed Annuity risks. Capitalized by institutional partners like Voya and Antares, it will initially reinsure $4 billion in annuity liabilities. PIMCO will manage investments, with Deutsche Bank advising and arranging debt financing.