– How to succeed in increasing the results from closed life insurance policies
from: Versicherungswirtschaft 11/2020
By Ralph Hientzsch, Dr. Peter von Koppenfels and Dr. Jürgen Stanowsky
How and whether the increase in the profit contribution from closed portfolios of life insurance succeeds depends to a large extent on the selection of the right strategy.
There are two basic ways to do this:
- Reduce costs of managing legacy assets by increasing efficiency in their management; for example, through improvements in inventory management, outsourcing, or even selling the old contracts.
- Increase revenues from customers with legacy portfolios, with the right approach making the difference here and opening up opportunities for cross-selling or reinvestment.
For more information, see this month’s Insurance Industry article, which you can download as a reprint here. (The article is in German.)