Virtuality posits a dramatic future for life cos

The term "virtualization" is discussed and why it is winning the hearts, minds, and wallets of consumers and suppliers of financial services is explained. The case for virtualization is powerful. First, it can dramatically reduce the costs of selling insurance, as well as costs of distribution and processing applications. Second, customers like the convenience of virtual channels. Third, virtualization can serve as a new, and potentially very effective, "enterprise model" that is not only cost-effective but leaner, more agile, and more focused on core competencies.