Article Abstract:
Insurance companies should restructure their delivery systems to improve results. New technology allows insurers to trim excess capacity by tightening up their delivery systems, thus improving overall profitability. Improperly-managed distribution channels can lead to poor customer service, high operating costs, and the development of an undifferentiated customer base. When restructuring a distribution network, insurers should define performance factors, create an extensive database of distributors to identify unattractive segments, and reassess all significant support activities.
User Contributions:
Comment about this article or add new information about this topic:
Article Abstract:
Insurance agents can crack the lucrative business market by selling small-group health plans to small business owners. While marketing the health insurance, the agent can then broaden the sales pitch to include a variety of life insurance or employee benefit products. Agents will be more productive if they market the ancillary products at the same time as the health insurance rather than waiting until after a health plan sale. Since small business owners receive many cold calls, a direct mail approach is best for soliciting new business.
User Contributions:
Comment about this article or add new information about this topic:
Article Abstract:
Life/health insurance companies must develop close client ties, offer competitive prices, and provide needs-based segmentation and distribution in order to retain policyholders. It costs the insurer five times as much to obtain a new client as it does to maintain a current one. Quality management based on client needs is key to retaining policy holders.
User Contributions:
Comment about this article or add new information about this topic: