Solutions - Policyholder Expectations

 If we are going to have a group of consumers of our products who are satisfied with what they get, we have to meet their expectations.

Obviously, there are two adjustment points whereby that can be accomplished.

  1. One is that you can change the outcome to match the expectations.
  2. The other is to change the expectation to match the outcome

-- Robert E. Wilcox - Chairman of the Life Disclosure Working Group (NAIC)

1994 - PROBLEMS AND SOLUTIONS FOR PRODUCT ILLUSTRATIONS,  Society of Actuaries