Source: Diamond Management & Technology Consultants

Date: January 2008

Type: Research/Analyst Report

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Overview: Throw conventional wisdom and industry fault lines out the window. Financial services firms, insurers, and healthcare payors admit they will need to add new capabilities as they prepare to serve baby boomers, who will control some $40 trillion in retirement assets by 2020. In its "Retirement Study 2008," Diamond analyzes how the convergence of health, wealth, and risk management is creating new business opportunities for companies that adopt a broader vision of the services they offer as well as a more precise view of the boomers they serve. Boomers, who make up the wealthiest generation in history, face tremendous uncertainties about how they will fund their retirement, and how wealthy they will be during those years. Those that fail to plan accordingly now will fall short of their expectations. The companies planning to serve the boomer market run a similar risk of missed expectations. Unless they consider new strategies now, financial services firms, insurers, and healthcare payers will lack the flexibility to survive in a changing health/wealth market.

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