The life insurance industry recognizes the Internet will be a valuable tool to help it compete in the future. But there is still a long road to travel before life carriers can become true e-businesses.That's the conclusion of a recent study conducted by the American Council of Life Insurers, Washington, D.C. The study, "Life Insurance and Electronic Commerce: Present and Future," examines several key issues related to the Internet, such as electronic signatures and cyber security. The focus was primarily on insurer-to-consumer initiatives.
Eighty percent of survey participants say their company has a long-term Internet/electronic commerce strategy in place. Although the survey illustrates that the industry is thinking about e-commerce, the companies are having problems implementing these strategies.
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