NU Online News Service, Aug. 8, 2003, 5:28 p.m. EDT – Only 24% of the North American life insurance company chief financial officers who participated in a recent survey said their companies consider improving product distribution the most important issue, according to Tillinghast-Towers Perrin, New York.
But researchers at Tillinghast, the consulting firm that conducted the survey, found that 63% of the participating CFOs say their companies assign a high level of importance to discussions about distribution.
Tillinghast researchers used the Web to obtain survey responses from 30 life company CFOs in June.
Sixty-two percent of the CFOs said their companies would try to improve distribution by recruiting more producers.
Forty-two percent said their companies would expand distribution by investing in wholesaling, acquiring agencies or bringing aboard new agency managers and general agents.
Another 39% of the CFOs said their companies would team up with independent marketing organizations.