The results are back from the Robert E. Nolan life insurance industry survey, and we’ve completed the analysis. A top-line review of respondents’ collective considerations runs a broad gamut, from one executive who states:
“The U.S. is a twilight economy. Our aging population will effectively shut down our production capacity. Other, young economies will take up the void. China, South America, etc., are where we should be going. Global is key 5–10 years out.”
to a company president’s view that:
“Nothing stands out above others—it is a combination of back-office efficiency and better front-end efficiency with customers (self-serve, contact-center-automated management, etc).”
With more than 51% of respondents at an EVP level or higher, and almost 80% officers in their companies, strategic considerations are at the forefront of the responses. The balance across functions also ensured a broad look at the industry, with 19% from knowledge and risk management areas such as underwriting and finance, 16% from IT, 18% from marketing, 23% from operations, and 24% at the C-suite level of the company. All in all, the respondents provided an excellent mix across all defining characteristics.
Valuable insights, compiled from active leaders across the industry, address timely issues, including:
 | How do companies see themselves doing with regards to goals, strategies, expense management, process improvement, and technology? |
| What are the most important industry trends that executives should be monitoring or allocating resources to? |
| Are any changes foreseen in the competitive landscape over the next few years? |
| With so many opportunities, how should sales and marketing departments focus their energies and allocate their limited resources? |
| How important will technology be in the future, and which of the many technological solutions represent the best, most strategic investments? |
| Is outsourcing still considered the panacea to operational expense overruns, and what is the role of on- and near-shore versus off-shore?
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These and similar strategic issues confronting the industry today are reviewed in the report. A detailed analysis of the responses and their implications—performed by our insurance industry specialists who bring their considerable expertise to bear on the analysis—is also included.
Results of the Robert E. Nolan Company life insurance industry survey, “Strategies for a Changing Industry,” are available now. A bound report will automatically be mailed to all survey participants. Others interested in the results are invited to request a complimentary copy of the report and to sign up for the online results webinar.
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