Ten ways to thrive as an international life company
By Mark Battersby, 3 Nov 15
In the latest in a series of viewpoints from prominent life industry figures, Sean Christian, executive director – offshore of Canada Life International, sets out what it takes to thrive as an international life office.
It was once thought that to be a successful company you needed to have a wide-reaching, well diversified strategy with a large product range and the ability to transact business in as many countries as possible. And for some industries these may still be important factors in delivering success.
One may take a view that the trend in recent years within financial services has been the opposite, with the focus shifting to what is deemed core to the long term success of a business.
Successful companies focus on what they know and do well and strive to maximise every opportunity in their chosen market. A strategy focused on a limited number of markets enables a life company to truly understand the needs and wants of advisers and their clients.
With the rising costs of regulatory compliance, an unfocused strategy that aims to chase business in as many markets as a company can feasibly enter, presents a whole set of additional risk considerations. If there was ever a time where the management phrase “stick to the knitting” applied then maybe it is now.
Tags: Canada Life | Sean Christian
