2010 Nolan Life and Annuity Survey - An Industry in Transition

LIFE INSURANCE & ANNUITY INDUSTRY
SURVEY FINDINGS
AN INDUSTRY IN TRANSITION

MANAGEMENT PRIORITIES FOR
LIFE & ANNUITY EXECUTIVES

CONTENTS
INTRODUCTION









 

 







1 LIFE &iNSURANCE & ANNUITY INDUSTRY SURVEY FINDINGS
3 LIFE ANNUITY SURVEY FINDINGS

INTRODUCTION

Our previous comprehensive life and annuity industry
survey highlighted five key strategic trends and resulting  
areas of opportunity for life and annuity companies.

With this new survey report, Nolan takes a fresh look at
these fundamental issues.  
 
As we developed our findings, the consistency of issues  
and observations relative to the previous survey was  
striking, especially regarding the areas of opportunity  
that exist for companies today. This is even more  
 
intriguing given that the prior survey was conducted in
 
2006.
 
While the fundamentals of the business remain largely  

the same, the economic turmoil of the past few years
has amplified the payoff for those who act on these
opportunities, and likewise amplified the price to be
paid by those who don’t. As each dollar of revenue
and expense has become more precious, one might
The need to re-examine the way companies think
say that any remaining slack has been taken out of the
about and manage risk is now top-of-mind for many.
operational “rope.” A comparison of 2006 and 2010
There are, of course, the traditional risk issues, such as
observations clearly profiles the consistency in theme but
managing credit exposures, regulatory capital levels,
variation in implementation of key strategic issues.
hedging techniques, foundational risks (basis, gap, and
volatility), asset/liability matching, proper reserving,
and so on. There are also many examples of less obvious
but nonetheless important risk dimensions, such as the
  following:

 » 

  
 
» 
 

 
  
  » 
  
  
 
 
 


WWW.RENOLAN.COM | ROBERT E. NOLAN COMPANY 2

INTRODUCTION
INTRODUCTION

The same is true for management reporting. The
emergence of the functional data warehouse, straight-  
through processing, and a sharper focus on how

customers view service outcomes have all led to new and
innovative performance metrics. How many companies  
have simply layered new metrics into their existing  
measures and reports, thereby diluting those reports  
and complicating the corresponding analysis, review,  
 
and action? They could have opted to replace outdated
 
reports with new and improved ones and streamlined  
the process of knowing more than ever about operational  
effectiveness. Just because you can measure something,  
or once measured something, doesn’t mean you should.  
  
Many insurance companies like to describe themselves  
as “fast followers” who let others innovate; they intend  
to pounce on the value identified by the innovator while  
avoiding innovation’s cost. In reality, this leads to a 

circular outcome that never introduces anything truly

original, as each company waits for another to break new

ground. Once again, this amplifies the opportunity for 
reward for those bold enough to innovate.

   
 
   
   
   
   
   
   
   —
   
   
   
   
   
  
  



EXECUTIVE SUMMARY

The insurance companies that participated in Number of Employees
this survey represent an excellent cross-section
of the industry, with 35% mutual and 65% stock
companies. An interesting turn in the market has
been the findings by Moody’s and A.M. Best that Less than 500 – 27%

mutual insurers have become better capitalized as
500 to 1500 – 20%
well as more resilient to market swings—despite the
governance created by SOX required for publicly More than 1500 – 53%

traded companies, which is intended to help manage
some of the risks of these last few years.

Type of Company

From the carrier’s viewpoint, with the dramatic drop
in the S&P from its highs—and with interest rates
remaining at historically low levels—the appeal for
Stock – 65% variable products, both annuities and life, dried up as
Mutual – 35%
buyers shifted to whole life and term to preserve their
assets. Hedging and risk management techniques,
combined with unexpectedly underpriced guarantees
linked to variable products, put many insurers at an
extremely high exposure level. This will continue to
wash out over the coming year and beyond.
In response, companies worldwide are integrating
From the distributor’s perspective, it is clear that the
stronger practices for managing credit exposures,
advisor will continue to be important to the client—
regulatory capital levels, hedging techniques,
at least for the foreseeable future. Even surveys of
foundational risks (basis, gap, and volatility), and
younger generations have shown that advisors are
the cost of specific product features like guarantees.
both expected and respected. Changes ahead will be
An overall increase in focus on risk management has
in the structural elements of the channels themselves,
been the clear, self-selected outcome of the recent
the blend of products offered and methods for offering
difficulties.
them, and how that expertise will be accessed, used,
Respondents also represented a good composite of and compensated. Due to channel aging, there is a
companies by size: 27% have fewer than 500 employ- potential for a void as top producers retire and aren’t
ees; 20% are mid-size, with between 500 and 1500 replaced in like numbers by new agents entering the
employees; and 53% are larger companies with more system.
than 1500 employees. The mix of companies is repre-
For consumers, similar to the flight to quality
sentative, providing insights into common elements
experienced in the tech bubble burst, the shift during
that cross size and permeate the industry. Leaders of
this difficult market has been toward permanent and
these diverse companies share in the challenges and
term products. For example, agency sales through
the underlying strategies intended to address them.


EXECUTIVE SUMMARY
INTRODUCTION

September 2009 increased 8% over the same period
in 2008. During significant real estate and market
declines, companies with products that are able to
either show no change in any intrinsic value (like
term) or an actual increase in value (like permanent
insurance) appeal to the consumer’s desire for safety,
security, and stability.

Not surprisingly, most companies are focusing on
the fundamentals to get through the economic
uncertainty. Within this focus on the urgent, the
greatest drivers of industry change fall in the
categories of demographics, market and economic
conditions, distribution, and new regulations.
Respondents provided information about the
strategies that they intend to pursue in addressing
these challenges. The unabridged version of this
report offers relevant insights in the form of a gap
analysis: (1) current situation; (2) expectations of the
future; and (3) over-arching strategies.


CURRENT ENVIRONMENT

There is no question that last year was a tough year sold through direct marketing. Sales through direct
in the life and annuity industry. Overall, premium was channels represented more than 20% of the policies,
down significantly, although it improved by year’s end. about 5% of premium sold, and 13% of the total face
Price competition was fierce, unemployment was up, value.
and small business suffered.
For insurers, relevant effects of the economic
Consumers continue to be cautious about buying and uncertainty include a good chance that many workers
conservative in their choices. Not surprisingly, there will face significant salary reductions; losses in home
have been large drops in market-sensitive product and retirement account values, forcing people to work
lines like variable life and variable universal life, offset longer; lapses by count and by face remaining at their
marginally by shifts to whole life and growth in the 10-year (excluding the 2002 blip) highs; policy loan
blend of participation and return floors provided by levels and rates remaining a critical factor in portfolio
Equity Indexed Annuities (EIAs). Based on LIMRA performance; and guarantees and price points
research, the premium performance by product line is becoming an even greater factor in decision making.
shown below. Even as the market recovers, the long-term effects
continue to cascade through insurers, influencing
The segment with measurable increases was direct
strategies and crossing product, market, distribution,
sales, with one in five U.S. life insurance policies
and operational lines.

PREMIUM PERFORMANCE BY PRODUCT LINE


Year Total VA Fixed EIAs
2009 -11% -18% -1% +9%


Year UL VL VUL Term WL
2009 -20% -69% -50% -1% +4%


CURRENT ENVIRONMENT
INTRODUCTION

» 
Consumers 

Ultimately, consumers drive the industry as the 
purchasers of an intangible contract. Most have been
impacted by the current economic recession; some » 
have lost their jobs, while others have been hurt by 
drops in the value of their retirement investments. As 
a result, the biggest motivators today are choice, value, 
relationship, and service. For the life and annuity » 
industry, most of those requirements are met through 
products, financial ratings, agents, and service. 

Consumers’ trust in the financial services industry
has waned. Headlines about greedy bankers selling » 
complex transactions (credit default swaps) that 
are connected to the insurance industry have hurt 
the industry. The political remedy has been more » 
consumer protection legislation, which inevitably 
translates to more complexity and higher risk of 
confusion. Compounding the scare is a volatile stock 
market. Even though policyholders knew there was 
risk, the drop in value of many variable products sent
» 
buyers running, and the guarantees in many products

sent insurers rushing for capital while suffering losses.

Life and annuity buyers have always sought financial 
security for their assets—whether for family
protection or retirement income—through life
insurance benefits and annuity income streams. More
recently, those policies have been enhanced with
guarantees, unemployment provisions, extended grace
periods, disability income, terminal illness coverage,
and additional coverage riders, such as long-term care.
Products have become modularized while approaching
commoditization.

The relevant results make up a list of consumer
priorities that any company seeking growth will be
challenged to provide in a meaningful, consistent,
cost-effective, and flexible manner. These priorities
are:


CURRENT ENVIRONMENT

versus building, and more careful investments in
Internal Impact infrastructure and technologies that change faster than
they can be implemented.
Respondents were asked what changes have resulted
from the recent economic turbulence. While some
companies believe market dynamics have not changed
materially, others identified definite impacts to their
strategic focus as a result of the recession. The most
frequently named impacts included:
» 


» 






» 




» 






This mix of strategy changes is being pursued at the
same time that many are scaling back their budgets,
using expense management to drive disciplined
decision making and resource allocations. The
reallocation in investment to selectively differentiated
services and products has spawned other changes,
depending upon the perceived windows of
opportunity and the calculated time to market. These
include delayed system development, a shift to buying


PROJECTIONS
INTRODUCTION

Regulation, Taxes, and Mergers Growth

In one of the strongest points of agreement in the In our 2006 survey, 60% of participants projected
survey, 97% of the respondents felt that the cost of that niche companies would be more successful than
compliance with new regulations will increase. This full-service financial organizations. This percentage
will probably be one of the most unfortunate side has dropped to 53%. The advantages of being smaller
effects of the crisis in the financial services industry. and quicker seem to have been overshadowed by the
Even though most of the problems centered elsewhere advantages of brand recognition and economies of
in the industry, all companies are expecting additional scale.
regulation and enforcement costs, straining already
Unchanged since 2006, only 37% of respondents
limited resources.
feel that expansion abroad will be a major source of
There was also a strong consensus about tax reform, growth for U.S. companies.
with 77% of respondents indicating that a change in
When respondents were asked about growth in
tax treatments—especially estate taxes—would have a
sales, we requested they rank various avenues as
major industry impact.
“probably,” “likely,” or “maybe.” Growth will probably
A similarly strong majority of 72% predicted that come from deeper penetration into existing markets
mergers and acquisitions will increase; about the (88%) or expanding distribution methods (83%).
same percentage (68%) agreed that divestitures and Many companies believed that growth would likely
discontinuation of product lines will also increase. come from greater demographic and/or behavior
Taken together, these findings indicate an expectation segmentation (63% and 60%). About evenly split,
of significant structural changes in the industry, its growth may come from acquisitions (58%) or
players, and their offerings. expansion into new markets (54%).



 
 
 
 
 
 


PROJECTIONS


Drivers of Industry Change 

Respondents were then asked, what does your 
company believe will be the greatest source of industry

change? The answers covered a broad field of issues,
conditions, and worries. In rough order of importance, 
seven drivers were identified: 

 




















 
 —
 
 
 

 




 
 
 
 
 
 
 
 
 
  
 



PROJECTIONS
INTRODUCTION


Industry Practices 
We asked respondents, “What industry practices 
does your company believe are most likely to change?” 
Again, the responses fell into a few main categories: 


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 








11 LIFE & ANNUITY SURVEY FINDINGS
3 LIFE iNSURANCE & ANNUITY INDUSTRY SURVEY FINDINGS

IMMEDIATE RESPONSE

There is no doubt 2009 was a tough year for the industry

and individual companies throughout. After responding

to questions about current trends and changes,
» 
respondents were asked, “What is your company doing in

response to the current industry changes?”

The most common response to the current turmoil was 
to stick with the fundamentals. It seems most companies » 
are immediately focusing on their core businesses, 
products, and expertise that sets them apart from » 
competitors, seeking both growth and profitability. 
» 
Second was tighter expense management. Many
» 
companies were looking for expense reductions and

operational efficiencies across all areas. Tactics included
» 
hiring freezes, cancellation of new projects, and fewer

new products.

The third ranking response was increased risk 
management. Many participants explained that their 
company has always been conservative in its investments, » 
resulting in very little asset write-down. Additionally, » 
almost everyone identified negative impacts on » 
investment income and customers. » 
» 
Respondents from the companies that are continuing
» 
their conservative philosophy said:
» 
» "— 
 » 
»  » 
 » 
»  
 » 

Reactions to risk fell mostly into two categories: » 
investments and products. Many companies continue to 
tighten the risk posture of their investment portfolio. This » 
includes more internal audits and less reliance on rating
» 
agencies. Companies are also reducing the risks in their
products by developing risk mitigation plans, redesigning » 
products, and revisiting hedging assumptions. 


STRATEGIC ASSESSMENT
INTRODUCTION

After requesting that respondents think about current trends and their immediate reactions, we asked them for an
assessment of a few key issues and strategies. In the table, you will see strong agreement about maintaining current
financial ratings and using process improvement. More than 80% of respondents say they have a clear vision, the
correct strategies, and an aligned organization.

While most responses were consistent with the last survey, two topics changed significantly. First, using process
improvement as an integral method to achieve results jumped from only 54% in 2006 to 87% this year. Second,
reducing expense ratios over the next three years grew from 51% in 2006 to 72% this year.

And 70% of the companies will be making significant investments in technology, while only 37% plan to use
reinsurance to mitigate risk.

Survey Statements

 
   
 

 
   
 

 
   
 

 
   
 



  




STRATEGIC ASSESSMENT



Respondents were then asked about the greatest While expense management has been mentioned
strategic challenges over the next three years. The before, the strategic challenge is to reduce expense
participants consistently identified four main while improving service. Becoming more productive,
challenges: (1) profitable growth; (2) increasing efficient, and gaining economies of scale will help
distribution; (3) expense management while bring down unit costs. Technology, which can lead to
improving service; and (4) product innovation. a more efficient workflow and other administrative
systems, will help improve underwriting and the
The most important challenge and corporate goal is
overall processing of life policies and annuities. Still,
profitable growth. Companies want to improve their
the cost of innovation with multiple systems and
competitive position within their market segments and
outdated technology is still seen as a major barrier.
be able to grow sales in a recession. The participants
The measure of success is becoming the carrier of
identified three key tactics: (1) staying focused on
choice for agents while reducing costs. All agreed
their core products to achieve deeper penetration
on the goal, but many stated that effective execution
in their markets; (2) improving persistence by
would still be an issue.
maintaining and servicing in-force customers; and (3)
opportunistic acquisitions, when available. Product innovation was also identified as a major
challenge. Many companies want to enhance their
The second challenge was distribution. Companies
current product portfolio by optimizing for improved
are investigating new distribution approaches and
margin and better managed risk. It will require two
increasing recruitment, seeking to improve retention
things: (1) innovative product development and (2)
of their agency force and the quality of the distribution
the ability to quickly deliver systems and process
channel. Almost everyone wanted to grow their overall
y
everyone d grow their overall
row their overall
enhancements to support the new products and
sys e
sy tem.
distribution system.
services.


STRATEGIC GROWTH
INTRODUCTION

Sales Challenges

Companies are confronting hefty issues and reaching
for new revenue goals. We asked participants to
describe the greatest sales and marketing challenges    
they expect to face.


The first and largest challenge is growth. Most 
of the concerns involved attracting or expanding
distribution, with a focus on attracting quality agents  
followed by the work involved in handling field

growth. Some companies are planning to double 
their sales force in the next 12 months. The extra 
requirements of geographic expansion and retaining

agent talent are also issues. 

Second is the stiffening competition—especially new

entrants in companies’ markets. Price competition 
has been brutal in some segments. Many companies 
are planning to win back customers and producers by
 
providing value-added products and services.

Even with plans to increase the field force, the third 

challenge is agent productivity. Many companies 
complain of a lack of growth in productivity in the
field force. The desire is to increase the average book 

size of their agents and promote more effective cross- 
selling within their target markets. In the voluntary
work-site market, the overlap of agent, broker, and 
enrollment firm channels is an added complexity.  

Other sales challenges include driving innovation,
creating product awareness, modifying commission 

rates, identifying target markets, branding, and 
dealing with no call lists and compliance. Some
companies see the need to break legacy approaches 

to sales execution by using new technology and 
modified distribution systems. Visions of streamlined
operations are hampered by the lack of adoption of
standard technology interfaces by distributors.


STRATEGIC GROWTH


To help us determine the rate of adoption, respondents were asked to score their company’s emphasis on some
commonly identified sales strategies. The table identifies the big winners: enhancing existing products (100%) and
expanding existing field sales force (91%).

Those strategies are followed in popularity (about 80%) by a focus on retirement solutions and marketing fixed
investment products.

About half the companies are considering providing financial planning services and offering long-term care products.

Only one-third of the companies are interested in marketing variable investments, increasing guarantees, or building
private-label products.

Almost none of the respondents (only 9%) are planning to offer banking services.

Sales & Marketing Strategies

0 1 2 3 4

Expanding existing field sales force

Focusing on enhancing existing products

Marketing of fixed investment products

Focusing on retirement solutions market

Simplifying products with discounted pricing

Offering long-term care product combinations

Offering financial planning services

Marketing of variable investment products

Increasing guaranteed benefits of variable products

Building private-label products for distribution

Other


STRATEGIC GROWTH
INTRODUCTION

Market Segments Market Segment

In the past few years, companies have segmented the
marketplace and focused on specific target markets.
The survey asked the respondents to identify the
market segments they were most interested in now.

The middle market was the big winner, with 77%
of the companies putting emphasis there. A similar
number of companies (60%) will build products
for older generations (age 55 and over) and new
generations (age 30 and under).

The significant changes from 2006 came in employer
and ethnic markets. Focus on the employer market Middle Market – 77% Employer Market – 51%
dropped from 68% in 2006 to 51%; focus on the ethnic Older Generations – 60% Ethnic Segments – 44%
market dropped from 88% in 2006 to only 44%. New Generations – 60% Affluent – 36%

Only 36% of the companies will be targeting the
affluent segment.


STRATEGIC GROWTH

The second largest change identified was in employee
Consumers benefits. This is a cost-sensitive issue for both
Companies are clearly designing new strategies for the employer and employee. In many industries,
their market segments. Respondents were asked what traditional group benefits once paid by employers
they expect the greatest shifts in the consumer market are now shifting to voluntary coverage paid by the
to be. employees. For the carriers, these changes require
work-site distribution and enrollment and specialized/
The most significant changes are expected from simplified products, many of which target retirement
demographic differences. The key segments needs and long-term care. This is a two-step sales
identified were Boomers, young consumers process that starts with the employer to help them
(Generation X and Y), and ethnic segments. manage their risks and costs.

»  The third change is increased product awareness
 and the demand for safety. After the turmoil in the
 financial services industry, both agents/brokers and
 consumers followed a flight to quality/safety. Now
 there is more focus on the safety and fundamentals of
 the products and the companies behind them. There
 is greater awareness of these issues now, more access
 to information, and increased demand for safety and
 simplicity in products.

» 











» 






STRATEGIC GROWTH
INTRODUCTION

Companies are investigating increasing their focus on
Distribution independent channels, adding independent marketing
Expanding distribution was identified as an organizations, expanding their career captive agency
important growth strategy going forward. So force (including financial advisors), adding a direct
respondents were asked, what are the greatest changes channel, or moving into work-site marketing. No
your company expects in distribution? matter the strategy, the drivers seem to be the same:
sales growth and distribution cost reduction.
Several companies stated that no change was
envisioned: for example, those using the independent Direct sales, primarily using new technology (mostly
agent channel exclusively will continue to do so. Yet Internet), is a priority for many companies. Overall,
many companies stated that changes were expected, companies are relying more on the Internet in the
especially in new distribution channels and direct sales and service processes. As carriers look at possible
(Internet) sales. The universal drivers continue to be the direct channels, total electronic marketing and selling
need to reduce distribution costs, meet competition, functions—including electronic applications—are
and provide a sales method that targeted buyers want. both under serious consideration. Expectations are
of fewer face-to-face sales, a decline in transactional
Of course, while the growth strategy depends to a low-value interactions, and expanding geographic
great extent on a company’s current distribution presence. However, respondents accept that not all
system, many carriers are planning on developing new direct or Internet strategies eliminate agent-facing
distribution channels. Overall, there is a shift away interactions; some carriers are devising tactics that can
from an exclusive system to a more balanced model. complement their agent channels.

Distribution Strategies

0 1 2 3 4

Independent Agents

Career/Exclusives

Alliances

Financial/Investment Advisors

Direct Marketing

Banks and Retail Outlets

3 iNSURANCE & ANNUITY INDUSTRY SURVEY FINDINGS

STRATEGIC GROWTH

group required the development of new profitable
Product products for new distribution systems.
Given the current economy and respondents’ Given the competitive environment, speed to market
strategies, we asked respondents what they felt their was identified as important. This included designing
greatest product portfolio challenges will be. Four products for specific markets and state variations. The
were identified: product mix, product innovation, greatest internal challenge is the ability of IT to deliver
speed to market, and profitability. quickly.
The primary objective is to get the right product mix. Of all the issues, product profitability may be the
Although most companies want to focus on their core ultimate challenge. The issues cited varied from
products (mostly whole life and term), many wanted achieving scale with niche products to meeting hurdle
more universal life and fixed annuities. In particular, rates for term products. Other issues include dealing
many seek to introduce more life and annuity products with potential interest rate risk or variable product
tailored for the aging population. Above all, the focus guarantees. Almost everyone agreed that it is difficult
is on keeping products current and competitive. to continue broad product development in the face of
Product design and innovation remain major expense reductions. Also recognized was the challenge
challenges. Many of the design requirements depend of attaining desired investment returns to meet pricing
on the target market, with companies pursuing mostly assumptions. A few clearly stated the need to “avoid
simple, easy-to-understand products and product the influences of competitors seeking market share
features. Others wanted combination products. A third through irrational pricing.”

Product Types

0 1 2 3 4

Term

Whole Life

Fixed Annuities

Universal Life

Combo Products

Variable Annuities

Variable Life & Variable UL


OPERATIONS & TECHNOLOGY
INTRODUCTION

» 
Operational Challenges 

Addressing technology as a separate issue, » 
respondents were asked about the greatest operational » 
challenges they expect to face. Three main issues were
» 
identified: expenses, service, and talent.
Overall, companies want to maintain a quality staff
The real challenge of expense reduction is improving
with strong expertise in all the required disciplines.
(or at least maintaining) service levels with fewer
While implementation is still modest in most
enhancements in technology and less staff. Companies
companies, a couple of tactics are emerging: retaining
report that it is difficult to find additional cost
experienced workers by establishing programs
efficiencies—which are especially critical with
that allow for longer work careers and expanding
products where margins are thin.
telecommuting and geo-dispersed work options.
Service is still a key differentiator. In the short term,
some companies see the challenge as being able to
offer innovative, high-touch service without new
tools while keeping costs down. Others are trying
to improve time service and customer service by
merging departments. Where technology resources
are available, companies are building self-service Web
capabilities. Overall, carriers are trying to provide a
consistent quality in the customer experience.

Automation has improved dramatically, yet companies
still need people/staff to get the work done. In these
times, talent management is also recognized as a
critical challenge. Respondents identified several key
issues:
» 
» 


» 

» 
» 
» 
» 


OPERATIONS & TECHNOLOGY

creating different levels of producer service based
Operational Strategies on contribution to profits. There is a consolidation
of similar functions across divisions to capture
Respondents were asked about their adoption of a economies of scale in 75% of responding companies.
few common operational strategies. Almost all are
pursuing two popular strategies, with 100% of the Depending on their corporate goals and strategies,
respondents stating a mission to expand accessibility, respondents are also implementing different levels
whether by phone, Web, e-mail, or voice response. of customer service based on consumer profitability
This was closely followed by 96% of the companies (63%), aligning operations with customer markets
focusing on accelerating service, defined as reducing (62%), virtual and/or geographical consolidation of
transaction turnaround times. Both are clear responses call center operations (57%), aligning operations with
to understanding customer expectations. distribution channel—career, bank, agency, etc. (57%),
consolidating physical locations (50%), and offering
Several other operational strategies are also getting
bank card premium payment options—prepaid card,
strong support. For example, 82% of the companies
credit, or debit (49%).
are increasing hours and days of service, and 81% are

Operational Strategies

0 1 2 3 4 5
Accelerating service delivery
(reducing transaction turnaround times)

Expanding accessibility
(phone, web, e-mail, voice response)

Increasing hours and days of service availability

Consolidating similar functions across divisions
(economies of scale)

Creating different levels of Producer Service
based on contribution to profits

Aligning operations with customer markets
(employer, individual, etc.)

Aligning operations with distribution channel
(career, bank, agency, etc.)

Creating different levels of Customer Service
based on consumer profitability

Virtual and/or geographical consolidation
of call center operations

Other

Consolidating physical locations


2010 Nolan Life and Annuity Survey - An Industry in Transition

2010 Nolan Life and Annuity Survey - An Industry in Transition

Recommended

Recommended

More Related Content

Similar to 2010 Nolan Life and Annuity Survey - An Industry in Transition

Similar to 2010 Nolan Life and Annuity Survey - An Industry in Transition (20)

More from Steven Callahan

More from Steven Callahan (20)

Recently uploaded

Recently uploaded (20)

2010 Nolan Life and Annuity Survey - An Industry in Transition