A major rating agency has concluded that selling to moderate-income consumers will improve insurers' finances.
The rating agency, Standard & Poor's, underscored that view this week by putting a panel discussion on reaching middle-market customers on the agenda for its latest annual insurance industry conference.
Wheeler, the MetLife executive, said he thinks "change is coming," because digital marketing is so powerful, and because consumers are more willing to buy through the Internet. But he said designing life products for Internet-based middle-market distribution systems can be tricky.
Few middle-market consumers wake up and decide they want to buy life insurance, Wheeler said. Those who do "are generally not great life risks (takers)."