Portfolio Essay Example | Topics and Well Written Essays - 2500 words - 2

Portfolio - Essay Example When the fundamentals are portrayed to be poor, not only does it indicate a poor investment opportunity, but it also hinders the growth of the industry. It is usually a bad image and information to the insurance clients if they realize that their insurance company is not in good financial position to pay them, if it is faced with a huge number of claims. Taking a look at the current performance of the insurance industry, it is hard to predict the position that insurance companies will occupy in future. Even an insurance company is successful in the present period does not guarantee success in future. Some of the reasons leading to future uncertainties of insurance industry include customer experience. For instance, if the insurance company does not offer products desired by the customer, then him or her will automatically go elsewhere searching for the same product. it is thus important for insurance companies to find issues affecting their clients and come up with appropriate ways of responding to the identified issues. Basing on the present characteristics of customers, it is apparent that the future customer will be at the center stage in shaping the system of life insurance. Available researches have revealed that the new customer is not ready to buy products unless he has full information of it. In addition, future customers will not have time to interact with agents or having a conversation with them. Many future customers will be interested in finding out facts about life insurance and not just talking to agents. In spite of the fact that agents are very helpful through provision of information to the insured, future customers will mostly avoid speaking to the agents and instead find out facts about products offered by various insurance companies on their own. Thus future customers will be mostly relying on their personal research so as to vet insurance companies and their respective policies. Therefore, insurance