By Art Krozser, vice president global solutions and enterprise support, CyberShift

The global insurance industry, which has seen several years of pricing increases and profitability, has entered what can best be described as a soft market. In addition, U.S. federal legislation resulted in heightened merger and acquisition activity that has created a new environment for insurance companies that are now contending with banks and financial services firms for customers. Competing in the global insurance market was no easy task before these recent consolidations and today's diverse organizations face unique challenges and opportunities that require aggressive and effective cost control practices to boost financial performance.

Insurance companies face unrelenting pressure to attract new customers and maximize value from existing relationships. Buyers have come to view insurance and related products and services as commoditized products, compelling insurance companies to go to great lengths to create exceptional customer service experiences to differentiate themselves. Reduced profit margins and corporate objectives exert even stronger emphasis on improving employee productivity. Best-inclass organizations turn to technology to advance business objectives and improve financial performance. The enhanced staffing and cost control measures provided by workforce optimization solutions are keys to profitability and quality customer experiences. As competition intensifies, fully optimizing all aspects of the workforce to achieve operational efficiencies and maximizing productivity is essential.