October 2006 — Continuing our strong foundation of research-based consulting, NewLink is pleased to announce two new annual studies designed to help life insurance companies to improve their service to producers and distributors.
The Distribution Service Satisfaction Survey gathered in-depth responses from over 1100 producers, distribution heads and administrative and marketing support staff. The survey was completed during June and July of this year. The very strong response will enable us to develop meaningful guidance to companies to help them understand producer and distributor expectations, priorities and issues.
This, in turn, will enable companies to focus their resources more efficiently to improve producer satisfaction. Sponsoring companies will receive their custom reports later this quarter.
The Operations Study gathers detailed information from participating life insurance companies which will be used to provide comprehensive feedback on a wide variety of operations elements including organization structure, service standards, quality controls, technology, processes and unit costs. This is the first real benchmarking study for individual life insurance operations in Canada, and will give participating companies a great advantage in understanding their strengths and weaknesses. It will also give them many ideas for opportunities for improvement.
Companies participating in both benchmarking studies will gain significant insights into which approaches correlate with better service and satisfaction, based on customer perceptions. Everybody wants to get better – participants in these studies will have the tools to invest limited resources wisely, focusing on improvements in the right areas to gain the best results and most meaningful impact with their distribution networks.
NewLink works with Wealth Management and Insurance industry participants to create lasting value in information-based products and services, business processes, and information technology applications. Visit our web site at http://www.NewLinkGroup.com for more information.