Insurance companies must effectively manage expenses to thrive in today's increasingly competitive marketplace–some will need to do so to survive. The trouble is most companies struggle with the process.
Company “A” executes one chainsaw layoff massacre after another, resulting in a permanent morale malaise. Conversely, Insurer “B” avoids the chopping block like the plague, periodically trims, and gets a few short-term, painless gains.
Both achieve band-aid solutions, but neither solves its long-term competitive problems. Where do you cut, how much is enough, and will it ever make a difference?
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