Provide a reply to this discussion post since I also worked in Banking and Insurance industries.

My organization, Manulife, is an industry leader in life insurance. The system that has been set up by Karen Cutler, the lead underwriter for Manulife, is known across the industry as a gold$-$standard. As referenced by Heskett, Jones, et al$.(2008),$ the Service$-$Profit Chain shows a starting point of internal service quality. The life insurance branch checks off all the highlighted measures of the internal service quality: design or workplace and job, employee selection, development, rewards and recognition and customer$-$serving tools. Starting almost $20$ years ago, the department began aggressively putting employees first through setting up systems that were completely online and had reporting successfully built in$,$ they provide education courses for underwriters and offer working arrangements to be set by each person based on what is best for them. With the built$-$in reporting, managers can review all aspects of each person$$s work and coach and recognize every member of their team to support their development. This thoroughly built foundation has a profoundly positive effect on the rest of the Service$-$Profit Chain.

Alternatively, improvement can be made within the banking sector of Manulife around the exact issues that make the life insurance sector so successful. The platform development and delivery are entrenched in the mentality of looking backwards and reaction. Instead of looking at where we are, where we want to be and how can we close the gap, we are looking at where we are, where we were and what we think makes sense based on historical choices and set$-$ups. Future development is through the lens of how we can keep up with the competition as they are currently operated. If the bank started looking at the factors of the employee retention and productivity and investing resources for satisfaction and internal service quality, the results would build the external value. Individuals need to feel more empowered to collectively work towards customer satisfaction and loyalty.

We are currently moving to a new strategic mission that focuses on Advisor referrals and away from B$2$C $($business to customers$)$ direct selling. The principle behind this is the referral and sales pattern where we invest in the relationship with Advisors who will then bring us more business through referrals of many individual customers. This model is what the life insurance branch does extremely well and has leveraged the referral business to be an industry leader.