A fast-growing market of more than 40 million people, representing $600 billion per year of income, cannot be ignored for too long. The financial services insurance industry is finally learning how to embrace people of Spanish heritage within the United States, and use technology to better respond to this underserved segment.Reaching out to this market involves more than simple translation of documents and Web sites. The Hispanic or Latino market is a highly diverse one. While members of this market are not likely to respond to standard industry pitches, it is a receptive audience to insurance products.
"The U.S. Spanish-speaking population is growing at break-neck speed, with no signs of letting up," observes Ron Rogowski, senior analyst for Cambridge, Mass.-based Forrester Research's customer experience practice. "There's a huge market opportunity for financial services," he says. "I continue to see to data that tells me this market continues to grow faster than expected."
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