Guaranteed principal plus interest: the growth of annuity companies

Article Abstract:

The insurance industry's growth has been primarily in guaranteed principal plus interest or annuity contracts because consumer needs have shifted from death benefits to retirement planning. Annuity companies have different distribution systems than traditional insurance companies and their risks are linked to economic and political events and distribution methods rather than life expectancy. The failure of new annuity companies is usually a result of bad risk management when playing the market and annuity company stability is not related to size, opening the annuity market to many insurance companies.

Retirement planning, Annuities

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Reengineering the new business process: lessons learned from refocusing on the customer

Article Abstract:

A case study of reengineering an individual disability insurance operation illustrates the key factors for business reengineering in general. These include gaining full support from top management, insisting on radical change, confronting cultural implications, focusing on processes, rejecting preconceptions, and committing all the needed resources.

United States, Customer service

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