Swiss Life takes care of people’s needs not just before, but also after, retirement. It intends to more actively target the customer segment of people who are approaching retirement or who have already retired.

The customer segment of affluent and high net worth individuals is becoming increasingly important. Swiss Life is already enjoying success in this segment in France thanks to its private insurer concept. Similar initiatives are also planned for Switzerland and Germany.

To respond even better to customer requirements, Swiss Life is stepping up its product management. The company wants to:

• recognise market needs more quickly
• inject more innovativeness into product development
• shorten time to market

As regards new business, the product portfolio will move away from traditional products with fixed guarantees towards new products with either variable or no guarantees. Such products offer customers higher potential returns, on the one hand, and tie up less risk capital, on the other.

Swiss Life intends to shore up its distribution capability with a multi-channel distribution approach. Swiss Life has already built up a well diversified distribution network in France. It distributes its products via:

• its own sales force
• agents
• brokers and independent financial advisors
• established partnerships with various private banks

Independent consultation services are becoming increasingly important in the sale of life insurance and pension solutions, which is why Swiss Life forged a strategic partnership with AWD.

Swiss Life plans to diversify its distribution resources in Switzerland and Germany, and to increase its sales through banks. Products in all markets will also be sold via the internet.