Insurers, when they decide to outsource the job of investment manager to a third party, rely less on a structured selection process and more on their trust and comfort level with the outsource operation, a new survey states.

David Holmes, partner at strategic consultant Eager, Davis & Holmes, who conducted the survey, said insurers generally do not score prospective third-party investment managers on predefined criteria; do not use a manager evaluation database to evaluate prospective investment managers; and do not use a third-party consultant to evaluate investment managers’ products and organizational stability and depth.

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