In today's market, insurance providers face unprecedented challenges. Customer demands have never been greater, regulatory pressures have never been more pervasive, and the products and services offered have never been more complex. To meet these conflicting challenges, insurance providers must be quicker, more responsive, and more flexible.
To fail in any of these dimensions is to risk loss of business and ultimately market share to a competitor who is making headway in all three. Improving performance, and keeping strong performance on track, require a clear understanding of what is happening at every level of the business. Insurance providers must stay on top of revenue, sales performance, marketing effectiveness, and customer retention to strengthen the link between boardroom strategy and frontline execution. Providers rely on accurate and precise plans, scorecards, reports, and dashboards to provide up-to-the minute status on each of these key aspects of performance.
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