Service quality and annual profitability are the two most important factors when reviewing strategic alliances, according to 90 percent of insurance executives surveyed by Inter-Company Marketing Group (ICMG), a non-profit association that fosters strategic alliances among insurance and financial services companies. Sales revenue and profitability for the length of the alliance also ranked high.
Strategic alliance reviews are largely the responsibility of senior management, division level, or line-of-business management, ICMG said; 93 percent of respondents said that senior managers are involved in their reviews of existing strategic alliances.
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