The document outlines a life insurance business capability model that defines key areas essential for strategic transformation in insurance companies. It details 11 major business capabilities, including product development, sales management, underwriting, policy servicing, claims management, and regulatory compliance, among others. The model aims to enhance alignment between business and IT, providing a roadmap for capability evolution and optimizing operational efficiency.

1. Life Insurance
Capabilities Model
https://www.finantrix.com/product/life-insurance-business-capability-model/

2. Transformation is a
strategic imperative
for Life Insurers
Several factors are
contributing to the
shift.

3. Bridge the Strategy to
Execution Gap.
Business Capabilities are
a Structural Blueprint of
an enterprise. They
capture the Essence of
What a Business Does.

4. Life Insurance Business Capabilities Map Level 1
2023 PRESENTATION TITLE 4
1. Product Development
and Management
2. Sales and Distribution
Management
3. Underwriting and
Risk Management
4. Policy
Administration and
Servicing
5. Claims
Management
6. Investment
Management
7. Finance and Accounting
8. Regulatory Compliance
and Legal
9. Human Resources and
Talent Management
10. Information Technology
and Digital Transformation
11. Business Management

5. 2023 PRESENTATION TITLE 5
1. Product Development and Management
Product Testing and Validation Product Portfolio Management
Product Performance Monitoring
and Reporting
Market Research and
Analysis
Product Design and
Pricing
Product Launch and
Promotion
Product Lifecycle
Management
2. Sales and Distribution Management
Fintech Partnerships and
Ecosystem Development
Lead Generation and
Management
Channel Strategy and
Development
Sales Process Management Broker and Agent Management Sales Training and Enablement
Agent Relationship Management
Sales Performance Analytics and
Reporting
Distributor Compensation and
Incentives
3. Underwriting and Risk Management
Application and Data Collection Portfolio Analysis and Reporting
Underwriting Decision and
Approval
Risk Assessment and
Analysis
Policy Pricing and
Quotation
Reinsurance
Management
Risk Monitoring and
Mitigation
4. Policy Administration and Servicing
Policyholder Communication and
Support
Policy Changes and Endorsements
Policy Issuance and
Documentation
Premium Billing
and Collection
Policy
Conversions
Policy Renewals
and Cancellations
Policyholder Data
Management
Customer Experience and
Satisfaction
5. Claims Management
Claims Investigation and
Assessment
Claims Performance Analytics and
Reporting
Claims Fraud Detection and
Prevention
Claims Intake and
Notification
Claims Decision and
Settlement
Claims Payment
Processing
Subrogation and
Recovery
6. Investment Management
Investment Performance
Monitoring and Reporting
External Investment Manager
Relationship Management
Investment Operations and
Administration
Investment Strategy and
Planning
Portfolio Management
and Allocation
Asset Acquisition and
Disposition
Risk Management and
Compliance
7. Finance and Accounting
Financial Reporting and
Consolidation
General Ledger and Chart of
Accounts Management
Accounts Receivable and Payable
Management
Financial Planning and
Analysis
Financial Controls and
Governance
Tax Management and
Compliance
Financial Audits and
Reviews
8. Regulatory Compliance and Legal
Regulatory Reporting and
Monitoring
Corporate Governance and
Secretarial Services
Litigation Management and
Support
Compliance Program
Management
Legal Advisory and
Support
Contract Management
and Review
Intellectual Property
Management
9. Human Resources and Talent Management
Workforce Planning and Analytics Learning and Development
Talent Acquisition and
Onboarding
Performance Management and
Compensation
Succession Planning and Talent
Mobility
Employee Engagement and
Retention
HR Policies and Compliance
HR Operations and
Administration
Diversity, Equity, and Inclusion
11. Business Management
Strategic Planning
Business Operations
Management
Research, Development, and
Innovation
Enterprise and Business
Architecture
Corporate Marketing
Supply Chain/Logistics
Management
Project Management and Solution Delivery
Enterprise Legal, Risk, and Compliance
Management
10. Information Technology and Digital Transformation
IT Strategy and Governance
Application Development and
Maintenance
IT Infrastructure and Operations
Data Management and Analytics
IT Vendor and Contract
Management
Cybersecurity and Risk
Management
Digital Transformation and
Innovation
IT Service Management and
Support
IT Project and Portfolio
Management
Life Insurance Business Capabilities Map Level 1 AND 2
Nested Visualization of two levels.
Decomposition to third level is
included for additional granularity.

6. Value of Business Capabilities:
•Foster alignment between
business and IT.
•A Capability-anchored
Transformation Roadmap
eliminates redundancy and
focuses on capability evolution
•Juxtaposing capabilities and
systems/applications provide a
footprint analysis for optimization.
•And so much more.

7. Business Capabilities Map
Snapshot:
• About 695 Capabilities
decomposed into Three Levels.
• Capability Definitions
• KPIs aligned to Capabilities.
• Editable PowerPoint, Excel, and
Word Formats.
And bonus files.

8. TO PURCHASE THE CAPABILITY MAP VISIT:
https://www.finantrix.com/product/life-
insurance-business-capability-model/
20XX PRESENTATION TITLE 8