Metuchen, NJ (PRWEB) June 24, 2015
There are 13.2 million U.S. households in today's individual life insurance market, about 22 million individuals. “Our predictive analytics are driven by the industry’s new customers across all channels and products. This recent buying behavior drives an algorithm to determine the number of households likely to buy life insurance and target the best prospects,” said Bill Poll at Information Asset Partners (IAP). "It's a measure of today's potential that enables marketers to begin their analysis with the goal – production – and then conduct market and underwriting assessments, segmentation, performance benchmarking, and targeting.”
“The metrics are designed to help our clients sell their products,” added Poll.
The life insurance market is geographically concentrated: 80% of the market resides in 8,000 ZIP codes; the top ten states represent over half the market. The analysis – “IAP Analytics Find the Best Life Insurance Markets in the U.S.” is available on IAP’s site: http://www.iapartners.com/uploads/1/3/3/8/13381670/iap_analytics_-_best_life_insurance_markets_in_the_us.pdf. The brief presentation features a series of top ten markets, good smaller markets around the country, and an in-depth analysis of the San Antonio, TX metropolitan area. The San Antonio analysis shows that the industry has very high potential among households with investable assets between $100,000 and $250,000.
In developing the Best Individual Life Insurance analysis, the data is consolidated into familiar geographic and postal market designations: ZIP codes, cities, counties, metropolitan areas, and states. Below are the top ten cities:
TOP INDIVIDUAL LIFE INSURANCE MARKET CITIES:
Top Ten Cities Represent 15.6% of the Market
1 New York, NY
2 Houston, TX
3 Los Angeles, CA
4 Chicago, IL
5 Philadelphia, PA
6 San Antonio, TX
7 Dallas, TX
8 Phoenix, AZ
9 Memphis, TN
10 San Diego, CA
With the exception of San Antonio and Memphis, all these cities also rank in the top ten annuity markets. (For information on the top annuity markets, see IAP’s press release “IAP Analytics Find the Best Annuity Markets for Advisors:” http://www.prweb.com/releases/2015/02/prweb12502932.htm. Links to the best annuity market report are in the press release.)
About Information Asset Partners
Founded in 2003, IAP specializes in the development and application of analytic solutions that focus on marketing performance and customer value for clients in wealth management, asset management, insurance, and banking: Measuring where institutional meets retail. For these clients, IAP’s investable asset, product, and retail financial behavior metrics provide new, integrated, forward-looking ways to assess their markets, manage marketing performance, and target the best prospects.
Information Asset Partners is located in Metuchen, NJ. Contact IAP at 732.662.1859 or visit http://www.iapartners.com for further information.
Information Asset Partners