Sunlife Insurance Case Study Example | Topics and Well Written Essays - 250 words

Sunlife Insurance - Case Study ExampleThe impregnable had decided to diversify into other clientelees at a time when it was facing very stiff opposition from new entrants into the insurance business. The company responded so well to the pressures of diversification through moving into the businesses that were contiguous to its tralatitious insurance base. These businesses included residential mortgages, mutual funds, as well as personal trust services. done these businesses, the sales agents were able to push the other services of the company, much to the benefit of the company. The mutual funds business was able to generate profits at a time when other companies were recording losses and and so diversification into the line of business and relying on the sales agents was a good decision (Sun Life Financial, 2012). By getting into the other lines of businesses standardised consumer banking, the firm was able to attract other customers through its other businesses like the cons umer banking where the agents were referring the customers at the bank to buy mortgages and the other services offered by the firm. Its partnership with Century 21 legitimate Estate enabled it to get to sell mortgage packs to the customers referred to it by the real estate firm into which it bought some indorse sometime earlier. The agency system the company had invested in enable the firm to achieve very handsome coverage that it would not have been able to have it gone for the brokerage system used by other firms. All in all, the decision to diversify into the other lines of business favored it.