If a customer reaches out to you, desperate to manage rising cost-of-insurance costs that are in excess of the policy’s investment income, what recommendations do you provide? That customer could surrender all or part of the insurance to reduce the premium burden. A life settlement is also an option, however. And often, it’s an option with better financial outcomes for your customer.
Since todayâs customer expects fast and relevant services from any provider, it is time for insurers to ask themselves what they know about their customers, and what they can predict from their customersâ behavior.
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