MassMutual Gives Up on Society of Grown Ups

Oct 14, 2016

  1. walthamny
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    walthamny Guru

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    Haha, as predicted on this board and elsewhere, selling direct to 20 year olds commission free life policies did not pay off in the long run.
     
  2. DHK
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    DHK "YOU CAN'T HANDLE THE TRUTH!"

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    Well, there went $100 million that could've been used elsewhere.

    Forbes Welcome
     
    DHK, Oct 14, 2016
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  3. Brian Anderson
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    Brian Anderson Executive Editor

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    This from the Boston Globe a couple days ago:

    Massachusetts Mutual Life Insurance Co. is scaling down its much-publicized effort to appeal to millennials.

    The Springfield-based insurer is shutting down its storefront Society of Grownups venture in Brookline and abandoning plans to open similar offices in 10 more cities in the coming years. MassMutual will instead focus on digital and online financial literacy efforts, said Jim Lacey, a company spokesman.

    Lacey would not comment on whether MassMutual would be laying off the more than 30 workers who are part of the Society of Grownups. However, BostInno, the online website that first reported that MassMutual would close the Brookline Society of Grownups site, said employees have been told of staff cuts.

    “In an attempt to best meet the needs of the next generation of customers, we have found digital channels to be the most effect way to engage with this group,” Lacey said in a statement. “Therefore, we have made the decision to invest in and grow the Society of Grownups through delivering digital and online financial literacy tools to Millennials. Thus, we will discontinue the physical storefront as a customer interaction location.”
     
  4. jboussea
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    jboussea Guru

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    I live in Boston and visit Brookline frequently .. I never noticed this
     
    jboussea, Oct 14, 2016
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