The most successful programs will be offered by institutions that make products and services available to their entire customer base, while targeting specific segments based on customers' life stages, events and expressed needs. The leveraged use of delivery channels will be of utmost importance to reach and manage the huge retired populace. For many institutions, this will mean a substantial effort to upgrade technology, customer sales and marketing strategies.
More Quotes from Cynthia Saccocia:
Predictive analytics allow advisors to more efficiently service and communicate with clients. Those advisors who don't leverage these tools will find their practices more expensive to run, as they won't be able to service a greater volume of clients as effectively.Cynthia Saccocia
Often insurance companies buy applications on a silo-by-silo basis. They'll lack integration across processes or even similar systems. But we're now seeing the development of business process management philosophies or managing entire processes. That requires technologies to deal with the content that affects decisions along the process.
Cynthia Saccocia
When you put these services out on the Web, you can also employ new rules that allow for better data gathering, and better data often equates to profitable business being written because the requirements are clear and the processes are defined.
Cynthia Saccocia
Carriers have a lot more flexibility today in their choices to buy or customize technology to transform their operations.
Cynthia Saccocia
In light of these three potential bottlenecks, insurers must resist the silo approach because process, content and data must mesh to drive operational improvements.
Cynthia Saccocia
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