景氣衰退及人壽保險・年金產業

Abstract

Overview

Introduction

There are conflicting views among wealth managers and economists, as well as in the media, about the extent and duration of sub-prime mortgage defaults and the resulting credit squeeze. Datamonitor predicts that the impact on financial services will be significant, and will last through 2009. We have produced a series of reports to identify the strategies to help them insulate their revenues.

Scope

• Introduces Datamonitor' s detailed analysis of the global investment markets through 2011
• Assesses the smart strategies around marketing and communications, and identify the companies that have been proactive in contacting their client base
• Identifies the products and services that will keep and/or attract clients in today' s market, including examples of the companies launching them

Report Highlights

Despite the fact that life companies will be less hard hit than other areas of the asset management industry complacency must be avoided. To many investors who do not understand the intricacies and variations in investment strategies, all institutions may be tarred with the same brush in the short term, despite differences in the long term.

The results of a Datamonitor survey show that 34% of advisers surveyed are unconcerned by the possibility of a recession in 2008, despite the turmoil in global markets, huge losses by key financial institutions and the slowdown in house prices. However providers are relying on advisers to communicate their strategies to clients.

The consensus in the market is that life companies should avoid spending large sums on developing new products, focusing instead on improved customer targeting, marketing and cross-selling the existing product range. It is about communication and consolidation rather than new product ranges.

Reasons to Purchase

• Learn what the global investment markets have in store for wealth managers through 2009, and why.
• Identify the strategies that will keep your customers through concrete examples of peers that are implementing those strategies already
• Identify the best products and services to launch, or re-launch, in today' s market, and those that will best position you during the recovery in 2009

Table of Contents

• DATAMONITOR VIEW
  • CATALYST
  • SUMMARY
• WEATHERING THE STORM IN LIFE AND PENSIONS
  • Life companies and financial advisers fail to recognize that a downturn could be imminent
  • The life industry will feel the market downturn but will be shielded from the worst effects
    • Although the market will be cushioned, strategies still need to be examined
    • The reality is that life company asset managers will be less hard hit than other players in the asset management industry
    • Communication is vital if the impact of short-term fluctuations is to be avoided
      • Asset management strategies in the life industry will remain largely unchanged in a market downturn
      • Realistic reporting may save life companies from the uncertainty that hit them in the last bear market
    • Providers are not unwilling to communicate with their clients but must do so more readily
  • Product redesign may be necessary but providers must learn from previous mistakes
    • Capital-protected products and smoothed products will increase in importance but targeted marketing rather than new product development must be the focus
    • Increasing product transparency holds a mirror to the downturns as well as the upturns
    • Competing products outside the life market will continue to represent a challenge
    • Some consolidation of products to the lines that are most profitable and core to the business is necessary
  • Providers are over-reliant on advisers to keep their clients
    • Advisers do not have strategies in place to aid providers in market downturns
    • Advisers will wait to take the lead from providers
• APPENDIX
  • Definitions
    • Currency peg
    • Exchange-traded fund (ETF)
    • Guaranteed fund/Capital-protected fund
    • Risk tolerance
    • Uncorrelated investment
  • Methodology
  • Further reading
  • Ask the analyst
  • Datamonitor consulting
  • Disclaimer
  • List of Tables
    • Table 1: UK life and pensions company assets under management split by asset class, 2002-06 (%)
  • List of Figures
    • Figure 1: Responses to the question "How concerned are you about the potential for a recession in the next year?"
    • Figure 2: Just 7.1% of UK life company assets are held in property-related investments
    • Figure 3: Responses to the question "Which of the following provider qualities would be more or less important during a market downturn than now?"