Hartford, Conn. – Despite inroads made from a tax and regulatory compliance perspective, the long-term care insurance industry may need to re-examine its value proposition to breakout of the small subset of current clients and serve the broader market, according to a new study by Conning Research and Consulting, a Hartford, Conn., firm that covers 30 insurance market segments. But getting the right technology in place to support this effort will be a challenge, experts say.
The Conning Research study, “Long Term Care Insurance: Searching for the Value Proposition,” quantifies the market need and potential market scope, and identifies the current product features and pricing challenges. Further, the study presents potential industry responses to flagging growth.
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