distribution-not-products-key-for-insurers

Distribution, not products, key for insurers

IFAs to respond to growing demand for professional advice, says Axa CEO.
The competitive advantage for life insurers is to be found in distribution arrangements rather than traditional product innovation, according to Mark Wilson, chief executive at Axa China Region in Hong Kong.

Speaking at the annual LOMALIMRA Strategic Issues Conference in Hong Kong, Wilson says new products no longer provided the differentiation or advantage that they once did.

There are two ways to grow market share in Hong Kong, he says, organically or through acquisition. Different products are simply not a long-term strategy because I havenÆt seen one good product that canÆt be copied in a very short-space of time. The key competitive advantage is distribution. That alone decides how insurers get a share of...
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