Growing market share and reducing costs currently are the most important business objectives for life insurers, a new survey reveals. The study, conducted by SOLCORP, DSPA Software and Whitehill Technologies, reveals that 77% of executives polled believe that the best means to improve profitability and revenue are to increase their market shares while reducing overall expenses.
Survey respondents also say that improving the efficiency and effectiveness of distribution channels, and improving customer service, are top objectives of their organizations. The most common strategies used to improve customer service include the implementation of Web-based customer self-service features, and initiatives to consolidate customer data onto fewer systems.
The survey also reveals that 76% of respondents are pleased with how their IT staffs are meeting the business objectives of their organizations.
Source: SOLCORP, DSPA Software, Whitehill Technologies
