Good points to consider for sustaining carriers (particularly less than 100M DWP)in the future). Included as part of reinventing a carrier must be seeking to do more with less. The costs of operating a carrier continue to increase. New models for writing business and offsetting the expense of operating a back office must be considered. Those that survive the next 100 years must be laser focused on doing more around pricing, risk selection and claims settlement. Redundant and costly back office processing work should be outsourced to reliable solution providers with modern systems resulting in lower operational costs and better overall quality for carriers and their distributors.
Sounds like Mr. Hartwig does not have stockholders to keep happy.
Good points to consider for sustaining carriers (particularly less than 100M DWP)in the future). Included as part of reinventing a carrier must be seeking to do more with less. The costs of operating a carrier continue to increase. New models for writing business and offsetting the expense of operating a back office must be considered. Those that survive the next 100 years must be laser focused on doing more around pricing, risk selection and claims settlement. Redundant and costly back office processing work should be outsourced to reliable solution providers with modern systems resulting in lower operational costs and better overall quality for carriers and their distributors.
Are you reading this, or are you ready to go bye-bye?