7 technology priorities for the individual annuities market
June 15, 2016 by Kristen Beckman
Technology is playing an increasingly important role in insurers’ ability to attract, retain and profitably serve clients, especially in the highly competitive individual annuity market.
New research from Boston-based Novarica found that individual annuity carriers are focusing on modernization of policy administration systems as well as improving agent portal functionality, business intelligence and risk management operations.
“With interest rates remaining low and competition for both clients and producers (including agents) high, carriers continue to look for both ways to improve their cost profiles while concurrently creating competitive advantage through enhancements to products and services,” Novarica wrote in its report.
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