Closed blocks outsourcing
How life insurers can reduce costs and improve focus
Life insurance is a business in which customers are serviced long after the sale and carriers are constantly developing new products and reconfiguring their offerings. Therefore, life insurance carriers spend a significant portion of their capacity servicing products that are discontinued, but still have active policyholders. Such products are collectively known as a “closed block”.
The paper discusses the opportunities to outsource the operation and management part of those “closed blocks”.