Bells and Whistles Skirmishes Pop Up at S&P Conference
June 10, 2019 by Allison Bell
Several speakers have suggested here in New York this week, at S&P Global Ratings’ latest insurance conference, that excessive product complexity might be one reason that life insurers have had sales problems, and regulatory headaches.
Mark Mullin, the chief executive officer of Transamerica Corp., made that point today during a life insurance CEO discussion, in a response to a question about why annuities have taken such a whacking over the past 10 years.
Some of the products have been too complex, Mullin said.
“We want people to understand the options embedded in these products,” Mullin said.