Finally, thawing of the discretionary spend freeze?
In my conversations with executives in both Life and P&C insurance companies, following are a few trends I have seen are
•Focus on improving distribution effectiveness and exploring alternate channels (especially on the P&C side)
•Increased focus on customer experience and retention
•Need to build better business cases to articulate the value of these programs
•Back office operations projects are far fewer in number but seem to be focused on taking cost out of operations through standardization / shared services on common platforms.
•Focus on improving distribution effectiveness and exploring alternate channels (especially on the P&C side)
•Increased focus on customer experience and retention
•Need to build better business cases to articulate the value of these programs
•Back office operations projects are far fewer in number but seem to be focused on taking cost out of operations through standardization / shared services on common platforms.
Comments
Srikanth,
In your interaction did you notice whether management is taking more conservative approach post the great recession? One of reasons for the financial failure was the lack of regulation. I was hoping increased monitoring, control and audit will be one of the focus areas.
Posted by: Souvik Roychoudhury | September 9, 2009 1:15 AM