Insurers that launch an articulate emerging markets strategy can realistically expect agent productivity increases of more than 50 percent, and dramatically better results than their “normal” business, according to Andrew Nuttney, a principal in the New York-based Research and Advisory Group.
Nuttney, whose firm specializes in urban marketing, will be a speaker at the Oct. 28-29, 2003 Urban Insurance Advantage workshop in Chicago, which is organized annually by the Urban Insurance Partners Institute (UIPI), a nonprofit insurance industry group. He will discuss the results of his firm’s recent research on emerging markets strategies and results.
“The problem,” Nuttney said in a statment, “is that only a few of the many diversity strategies now in place can be described as articulate, or to be blunt, successful.
“Despite these shortcomings, many of the firms surveyed report dramatically better results than in their regular business. Based on our research, we expect that absolute returns from multicultural initiatives in financial services should yield between 15 percent and 100 percent greater profitability, after incremental investment, relative to regular business. This is partly due to the pent up demand for a variety of insurance products.”
Nuttney will discuss analytic frameworks at the workshop, which will help company managers set clear metrics and transparent objectives.
Topics Carriers
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