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.
- One is that you can change the outcome to match the expectations.
- 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