From maximizing returns
to more consistent returns
Simplify a complex product: Winning back skeptical investors with a new twist on variable annuities.
After the 2008-09 financial crisis, many insurers backed out of the variable annuity business. Those who stayed were forced to adapt. MetLife created a new kind of annuity with a complex set of investment options. The challenge was to find a way to explain these funds in language that was clear, compelling, and repeatable.
Instead of attempting to explain all the complexities of a new annuity to investors, we focused on the benefits and outcomes it was designed to achieve.
One simple message: more consistent returns over time became the mantra for communicating about the annuity itself and associated funds.
When polled, more than 60% of advisors connected the simple message with MetLife’s new product. It was the best launch of a new product MetLife had ever seen.
The product jumped to the number one sales spot in the industry within two months and exceeded annual sales goals within the first quarter.