Traditional Life Savings Tools ‘Face Extinction’: Consultant

The Boston Consulting Group has posted a new video that shows how the world looks now to BCG’s top life insurance strategist in Europe.

Walter Reinl, the executive director of BCG’s life insurance practice for continental Europe, works out of Zurich. Before he went to work for BCG, he was the head of insurance group planning at Allianz, an insurer based in Munich.

Reinl, who has a bachelor’s degree in classics from Cambridge University, sees the aging of societies and low interest rates leading to a dramatic shift in how life insurers operate.

(Related: Here’s why life insurance agents must disrupt their approach to marketing)

In the past, Reinl says in the video, life insurers focused on offering retirement savers variable annuities.