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Eighty Turn Out For Life Lecture In Beijing

By Staff Writer

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NU Online News Service, Nov. 14, 2003, 12:15 p.m. EST – Jerry Warshaw, former president of Presidential Life Insurance Company, Nyack, N.Y., and professor emeritus of the Center for International Insurance Studies, says he recently gave a lecture at Beijing University about starting and managing new insurance companies.

Warshaw, who spoke at the invitation of the university’s associate dean of economics, talked about strategies for identifying competitive problems new companies will face, avoiding irrational competition, reducing adversarial relationships between the company and its sales reps, and searching for niche products.

The audience members included about 80 students and faculty from the economics and insurance departments, Warshaw reports.

One student asked about how a company handles poor persistency as a result of term life insurance price wars, and another asked about the implications of paying too much commission in renewal years, Warshaw says.