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Life Insurance Business Capability Model

Life Insurance Business Capability Model is a comprehensive and customizable capabilities reference model for Life Insurance Carriers. Visit: https://www.finantrix.com/product/life-insurance-business-capability-model/<br>

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Life Insurance Business Capability Model

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  1. Life Insurance Capabilities Model https://www.finantrix.com/product/life-insurance-business-capability-model/

  2. Transformation is a strategic imperative for Life Insurers Several factors are contributing to the shift.

  3. Bridge the Strategy to Execution Gap. Business Capabilities are a Structural Blueprint of an enterprise. They capture the Essence of What a Business Does.

  4. Life Insurance Business Capabilities Map Level 1 Life Insurance Business Capabilities Map Level 1 1. Product Development and Management 2. Sales and Distribution Management 3. Underwriting and Risk Management 4. Policy 5. Claims Management 6. Investment Management Administration and Servicing 8. Regulatory Compliance and Legal 7. Finance and Accounting 9. Human Resources and Talent Management 10. Information Technology and Digital Transformation 11. Business Management 2023 PRESENTATION TITLE 4

  5. Life Insurance Business Capabilities Map Level 1 AND 2 Life Insurance Business Capabilities Map Level 1 AND 2 7. Finance and Accounting 1. Product Development and Management Market Research and Analysis Product Design and Pricing Product Launch and Promotion Product Lifecycle Management Financial Planning and Analysis Financial Controls and Governance Tax Management and Compliance Financial Audits and Reviews Product Performance Monitoring and Reporting Financial Reporting and Consolidation Accounts Receivable and Payable Management General Ledger and Chart of Accounts Management Product Testing and Validation Product Portfolio Management 2. Sales and Distribution Management 8. Regulatory Compliance and Legal Compliance Program Management Legal Advisory and Support Contract Management and Review Intellectual Property Management Sales Process Management Broker and Agent Management Sales Training and Enablement Fintech Partnerships and Ecosystem Development Channel Strategy and Development Lead Generation and Management Regulatory Reporting and Monitoring Litigation Management and Support Corporate Governance and Secretarial Services Sales Performance Analytics and Reporting Distributor Compensation and Incentives Nested Visualization of two levels. Agent Relationship Management 9. Human Resources and Talent Management Talent Acquisition and Onboarding 3. Underwriting and Risk Management Risk Assessment and Analysis Workforce Planning and Analytics Learning and Development Policy Pricing and Quotation Reinsurance Management Risk Monitoring and Mitigation Performance Management and Compensation Employee Engagement and Retention Succession Planning and Talent Mobility Underwriting Decision and Approval Application and Data Collection Portfolio Analysis and Reporting HR Operations and Administration HR Policies and Compliance Diversity, Equity, and Inclusion Decomposition to third level is 4. Policy Administration and Servicing Policy Issuance and Documentation Policy Conversions Policy Renewals and Cancellations Policyholder Data Management Premium Billing and Collection 10. Information Technology and Digital Transformation Application Development and Maintenance Policyholder Communication and Support included for additional granularity. IT Strategy and Governance IT Infrastructure and Operations Customer Experience and Satisfaction Policy Changes and Endorsements Cybersecurity and Risk Management IT Vendor and Contract Management Data Management and Analytics 5. Claims Management Claims Intake and Notification Digital Transformation and Innovation IT Project and Portfolio Management IT Service Management and Support Claims Decision and Settlement Claims Payment Processing Subrogation and Recovery Claims Investigation and Assessment Claims Fraud Detection and Prevention Claims Performance Analytics and Reporting 11. Business Management Research, Development, and Innovation Business Operations Management Strategic Planning 6. Investment Management Investment Strategy and Planning Enterprise and Business Architecture Supply Chain/Logistics Management Portfolio Management and Allocation Asset Acquisition and Disposition Risk Management and Compliance Corporate Marketing Investment Performance Monitoring and Reporting Investment Operations and Administration External Investment Manager Relationship Management Enterprise Legal, Risk, and Compliance Management Project Management and Solution Delivery 2023 PRESENTATION TITLE 5

  6. Value of Business Capabilities: •Foster alignment between business and IT. •A Capability-anchored Transformation Roadmap eliminates redundancy and focuses on capability evolution •Juxtaposing capabilities and systems/applications provide a footprint analysis for optimization. •And so much more.

  7. Business Capabilities Map Snapshot: • About 695 Capabilities decomposed into Three Levels. • Capability Definitions • KPIs aligned to Capabilities. • Editable PowerPoint, Excel, and Word Formats. And bonus files.

  8. TO PURCHASE THE CAPABILITY MAP VISIT: https://www.finantrix.com/product/life- insurance-business-capability-model/ 20XX PRESENTATION TITLE 8

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