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Dec 13, 2017 · Ways to better manage existing books of business. The latest sigma reviews levers life insurers can use to better manage existing books of business, with two ultimate aims: to improve customer experience and to boost long-term profitability.
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The most common response related to product development and maintenance—that is, a unit that considers the full product life cycle. Second-most common was within finance (ultimately reporting to the CFO), followed by sitting within a business unit (i.e., with clear profit and loss ownership).
This article summarizes insights from a 2021 survey of more than 40 life insurance companies with a focus on trends in reinsurand and in-force management.
- Time Management. Being able to prioritize tasks, set deadlines, and allocate your time wisely is crucial for productivity and achieving your goals. Effective time management allows you to make the most of each day and reduce stress.
- Goal Setting. Setting clear, specific, and achievable goals provides you with a sense of direction and purpose. It helps you stay motivated and focused, leading to increased success and personal growth.
- Organizational Skills. Strong organizational skills enable you to keep track of your responsibilities and commitments. From decluttering your physical space to creating systems for managing information, staying organized saves you time and reduces overwhelm.
- Stress Management. Life can be filled with stressors, both big and small. Developing effective strategies to manage stress, such as practicing mindfulness, engaging in relaxation techniques, and seeking support, is essential for maintaining your well-being.
Nov 5, 2016 · Life force is the potential that is present in systems as an organizing principle and has the intrinsic tendency to preserve and improve the system. It gives systems the ability to...
Apr 20, 2020 · In-force optimization can deliver the trinity of economic advantages: improved growth, higher margins, and lower capital requirements. Realizing these benefits, however, requires carriers to marry a clear in-force strategy and best-in-class execution.
Oct 2, 2019 · In force management means more than simply ensuring your customers keep paying their premiums, it means engaging your customers so they’re happy, understand the value of your product, and are ready to recommend you to their peers. Retention should go beyond keeping your existing customers.
