Products sold directly to indivi颅duals, without the involve颅ment of an adviser, now con颅stitute a signi颅ficant and fast growing compo颅nent within the life and health market. In order for them to be priced and distri颅buted compe颅titively, such pro颅ducts typi颅cally combine highly stream颅lined or non-existent under颅writing pro颅cesses with simpli颅fied product design and affor颅dable pricing.

The traditional channel for such products used to be direct mail. The advent of telemarketing enabled companies to personalise their interaction with the customer whilst email delivered both personalised, relevant content at reduced cost. Direct response television (DRTV) advertising and online sales have now become the standard practice around the world. In Australia and the UK for example, insurance companies partner with affinity groups such as supermarkets or motor clubs – to sell their products to its members e.g. members of a loyalty card. White-labelling of products is common to make use of consumers’ brand loyalty and to expand the value delivered to members by the organisation.

Hannover Re identi颅fied the growth poten颅tial of direct marke颅ting pro颅ducts some time ago. We have since posi颅tioned our颅selves to partner effec颅tively with life insurers ven颅turing into this market and with distri颅bution com颅panies lacking spe颅cific insu颅rance experience.

In each case, our clients benefit from our exten­sive know­ledge and experi­ence with direct marke­ting insu­rance pro­ducts. The knowledge we have gained from our years of market participation and our sizeable inforce portfolios enable us to provide powerful support in terms of product and benefit design, risk pricing, underwriting and reflexive question sets, and claims management.

Our dedi­cated team of direct marke­ting insu­rance specia­lists has a proven ability to partner effec­tively both with life and health insu­rance provi­ders and with firms that have comple­mentary exper­tise and capabi­lities in areas such as adver­tising, online sales and call centre opera­tions.

We believe direct marke颅ting products, and those sold online in parti颅cular, will play an increa颅singly signi颅ficant role in the future.

This has led us to gain market-leading exper­tise in the design and management of robust and compe­titively priced under­writing-free or under­writing-light pro­ducts that offer our clients a valu­able addi­tional re­venue stream and a bene­ficial source of diversi­fication while providing consumers with direct access to insurance products.