I am proud to say that Integon continues to be a leader in universal life insurance sales as well as one of the pioneering companies. We have moved employment from 884 to 1,521. The speed of change is increasing. There's growing buyer awareness and sophistication. Our product life-cycles have dropped from around ten years to about 18 months.
Price wars exist in all forms in insurance.
Efficiency is the key to survival, which places new demands on people and technology. The insurance industry, and even the financial services industry, is well behind industrial companies in developing good cost analysis tools to measure productivity. We must catch up. There are new working demographics. Increasing numbers of females are in today's marketplace resulting in a steady increase in two-income families.