The Annuity Boom: Echoes of the Industrial Revolution 

Annuity Month blog2

Annuity Industry Set for Growth

The annuity industry is on the verge of a major boom. It’s like the Industrial Revolution all over again. During the Industrial Revolution, people turned to annuities for a steady income stream as they aged. But this time it’s digital innovation that’s driving the change, and it’s accelerating. The demand for annuities is surging, and it’s time to get ahead of the curve.

Meeting the Retirement Demand

A few key things are driving the big demand for annuities. First, many baby boomers are reaching retirement age. Annuities can give them a guaranteed income for life. This makes annuities the perfect answer for this growing need.

Market Volatility Heightens Appeal

The Industrial Revolution began during a time of big change. The current annuity boom has a similar origination. Market swings and high interest rates lead to uncertainty. So, people want and invest in the safety and stability of annuities more.

Technology Transforming Annuity Landscape

The steam engine and machines transformed the world back in the 1800s. Today is no different. Technology is revolutionizing the way we buy and sell annuities today. It’s like we’re reliving the Industrial Revolution. But this time digital platforms, data analytics, and AI are taking center stage.

Think about it. With the right tools, advisors can now generate multiple annuity quotes in a snap. Clients can get a clear view of their investments with digital dashboards and reporting tools. They can even submit an application and receive a policy electronically.

Sales automation technology makes the whole process easier, faster, and more efficient. Just like how the telephone—invented in 1876—made communication easier, faster and more efficient. So, what would it mean for your business if you could harness that technology?

Integrated Quoting Enhances Efficiency

It’s hard to find the right annuity product for a client’s needs. It’s overwhelming to compare the different options. Annuity quoting technology provides a side-by-side comparison that makes it easy. Advisors will be more efficient and faster at finding the right product fit. It also makes the client experience better and boosts sales. Clients can easily understand and compare their options. So, they have more trust and confidence in their financial decisions.

End-to-End Digital Processing Streamlines Sales

Digital processing is a game-changer for advisors. Imagine having everything you need to close a sale in one place. No more jumping between systems or scouring carrier websites for the latest product information or applications.

Finally, you can compare annuities, generate illustrations, and submit applications. All in one smooth, digital workflow. This means shorter sales cycles and a better experience for the advisor. And let’s not forget the best part: happier clients.

With a streamlined sales journey, you can focus on what really matters. Building strong relationships and growing your business.

Annuity Revolution Just Beginning

The transformative power of the Industrial Revolution brought economic growth and prosperity. Similarly, the annuity industry is on the cusp of a massive boom. As a result, the financial future of many looks promising and a lot more secure. Digital sales automation platforms will lead the way in driving annuity growth. They are already revolutionizing the annuity landscape.

Are you ready to switch to a digital sales process? Discover how our innovative solution can make life easier for your advisors and clients and boost your bottom line.

Request a consultation here or contact sales at 719.442.6400.

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