 |
|
Press Releases
|
FOR
IMMEDIATE RELEASE
CONTACT:
Marketing Department
The Robert E. Nolan Company
972-248-3727 x113
fax 972-733-1427
marketing@renolan.com
www.renolan.com
Life Insurance Executives Predict Significant
Changes, Robert E. Nolan Company Survey Finds
DALLAS, Texas, February 6, 2002 -- Life insurance
executives, in a recently conducted survey, made predictions about the
life insurance industry and described strategies for succeeding in the
future. Taking the broad view, they see a future for the industry that
looks much like the present. However, when they fine-tune the picture,
significant changes appear to be in store for the industry.
These are the conclusions of a new, in-depth survey, “The Future of the Life
Insurance Industry: A Strategic View,” conducted by the Robert E. Nolan
Company, a management consulting firm specializing in the insurance
industry.
The survey results suggest that:
 | Independent producers will remain the primary distribution
channel for life insurance products. |
| The Internet is fundamentally changing the way carriers
serve their customers. |
| Virtual companies will not represent a significant threat to
traditional companies. |
| Emphasis on cost controls will become even more intense. |
| Two separate business models will be viable—fully integrated
financial service enterprises and organizations that will compete in
specific niches. |
| Fully integrated systems will provide front-end interaction
with customers and back-end transaction processing with legacy systems. |
More than 100 senior life insurance executives took
part in the survey. They were asked how they believe successful life
insurance companies will address five key areas in the future: industry
structure, strategic alignment, partnering and reach, financial
attributes, and products and services.
To receive the survey
results, visit the Robert E. Nolan Company's Web site at
http://www.renolan.com.
An article that summarizes
the study's findings and offers suggested paths for insurers to follow in
the future is scheduled to appear in the March edition of Best's Review.
The Robert E. Nolan Company is a management
consulting firm specializing in the insurance industry. Since 1973, the
company has been helping insurance companies achieve measurable
improvements in service, quality, productivity and costs by helping them
achieve an optimum blend of people, process and technology. For more
information, visit
http://www.renolan.com.
###
|
|
