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Overview: Intelligent standardization is a noble goal for insurance products, processes, and the key tool by which they are typically managed—forms. But ask any actuary or product manager what makes their products unique and you'll almost never hear, "We serve up standardized products at commoditized prices more efficiently than our competitors." Building effective relationships with customers and distribution channels is a common strategy. Product customization is more prevalent still, and it is a often-used means by which carriers compete.
The report examines several key questions:
* What is the current state of play in using bureau-based administrative forms?
* What is the context for use of bureau-provided content, such as policy forms, rates, rules, and forms?
* How can companies best balance the efficiencies gained through use of standardized content with the value from product differentiation?
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