Maximising Value from the In-Force Book: A Systematic Approach to Unlock the In-Force Opportunities
Life insurance is a mature business, and profitability in many markets is still below pre-crisis level. Making the most of the in-force book can unlock substantial value: 7-10 bps of the reserves in additional operating profit, and potentially much more if effective in-force management becomes part of business as usual. In this paper, Oliver Wyman examines the sources of in-force optimization and outlines the five guiding principles to seize this opportunity.
Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned subsidiary of Marsh & McLennan Companies [NYSE: MMC].
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Table of Contents
1. The Opportunity: Capturing More Value from the In-Force
2. Opportunities to Increase In-Force Value
3. Five Guiding Principles for In-Force Optimisation
4. Getting Started