Deloitte Releases 2007 Life Insurance Operations Benchmarking Study (LIONS)
06/19/08 09:39
Since 1996, Deloitte specialists have published the
Life Insurance Operations Benchmarking Study (LIONS),
which provides comparative analysis widely used by
top insurance executives to benchmark expenses for
operations and information technology. This year
highlights from the latest LIONS have been released
in the form of an executive summary report. Key
findings include:
Insurers have not fully leveraged eService and call center capabilities. Lower-cost companies have unit costs that are 33 percent lower than the average; they are attaining these benefits through the use of Web and interactive voice response (IVR) technologies.Business process outsourcing is still gaining traction with insurers.
Lowest-cost insurers have unit costs that are 20 percent lower than the average. Low-cost companies realize savings of about $30 million per $1 billion of total annual premium.
View the executive summary report at: http://www.deloitte.com/dtt/cda/doc/content/us_fsi_LifeInBenchmarking_May2008.pdf
Insurers have not fully leveraged eService and call center capabilities. Lower-cost companies have unit costs that are 33 percent lower than the average; they are attaining these benefits through the use of Web and interactive voice response (IVR) technologies.Business process outsourcing is still gaining traction with insurers.
Lowest-cost insurers have unit costs that are 20 percent lower than the average. Low-cost companies realize savings of about $30 million per $1 billion of total annual premium.
View the executive summary report at: http://www.deloitte.com/dtt/cda/doc/content/us_fsi_LifeInBenchmarking_May2008.pdf
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