When the agent of change is a click of the mouse; Internet sales offer an insurance alternative

Article Abstract:

The use of the Internet is changing the nature of the US insurance industry. Customers are now able to browse the Web and compare the offerings of several companies, make their choices and order a policy online. This trend is occurring at the same time insurance companies are facing increased competition from banks, who are now selling annuities, and insurers who are selling their policies through affinity groups. There is also a trend among buyers who are purchasing term insurance instead of cash-value policies, preferring to invest in mutual funds or other areas to increase their wealth. The move to cyberspace is new for the insurance industry, but many young people, who are already familiar with the Internet, are expected to use it to fulfill their insurance needs. Traditional insurance agents are worried by the trend.

Usage, Internet, Forecasts and trends, Industry trend, Telecommunications systems

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Insurers set $17.8 billion stock deal

Article Abstract:

SunAmerica Inc., a leader in investment sales for retirement, has been acquired by American International Group, which has offices in 130 countires, in a stock deal valued at $17.8 billion. Industry analysts have said that the acquisition will push American International into the business of variable annuities. The deal, which is one of the largest in the financial services sector, will allow Sun America to expand worldwide by taking advantage of American International's overseas markets' network.

Comment:

Acquires SunAmerica in a stock deal valued at $17.8 bil

Asset sales & divestitures, Acquisitions & mergers, Investment Advisory Services, Investment Advice, Licensing/Sales Agreements, American International Group Inc., Investment advisers, SunAmerica Inc., Article

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Son of insurance tycoon to head big brokerage firm; Marsh & McLennan promotes Greenberg

Article Abstract:

Jeffrey W. Greenberg has been named president of Marsh & McLennan Companies and will be its next CEO and chairman. Greenberg has a law degree from Georgetown University and has been in insurance all his life. He claims there will be no conflict of interest with his father, Maurice R. (Hank) Greenberg, head of A.I.G. A.I.G. is 'the unrivaled American leader in commercial insurance' and Marsh & McLennan, 'the world's largest insurance brokerage.'

Comment:

Insurance brokerage names new president, Jeffrey W. Greenberg

Executive changes & profiles, Officials and employees, Abstract, Insurance brokers, MMC, Marsh & McLennan Companies Inc.

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