Who really calls the shots – The Government or Big Business when it comes to setting the direction and flow of the future economy?
You don’t need to look much further than the Insurance Industry to see that new forces are in play in a new world economy, driven perhaps by Government steering rather than a cyclical wave of uncertainty created by the money markets who are ultimately the owners, underwriters and profiteers of the multi national corporations.
The Insurance Industry which is at the top of the triangle of the money market distribution, is renowned for it’s slow reaction to change.
You’ve only got to ask a dynamic young business analyst or insurance product underwriter how difficult it is to implement solutions that would ultimately bring an Insurance Company competitive advantage……
Insurance Companies are naturally cautious and are able to absorb external change over time through their ability to control the provision of products and the levels of competition within the market.
They do this by controlling the rates at which they sell their products to the retail market through various differing distribution channels.
The rates that Insurance Companies set for Insurance are typically determined by the levels of profit that the investment side of the company is making.
