The marketing design of life assurance proposals

Abstract

Concentrates solely on custom building, as this is the area of major growth in the life assurance business. Demonstrates how the well‐known techniques of product concept testing can be applied in a service industry when mass marketing is contemplated. Delves into a study conducted in spring 1967 in Bradford, UK, involving 40 households, where the head was between 18 and 25 years of age. Reports on the questionnaire survey that covered a range of disbursement analyses, other than those specifically concerned with life assurance proposals. Concludes that the general conclusion is that the market segmentation implicit in straight life assurance and endowment assurance is meaningful, and that the conversion policy is the most effective way of straddling the two segments, to ensure brand loyalty once contact has been converted into first business.